LAKE FOREST, Ill.--(BUSINESS WIRE)--Oct. 25, 2013--
Packaging Corporation of America (NYSE:PKG) today announced the
completion of its acquisition of Boise Inc. (NYSE:BZ). After the
previously announced completion of the tender offer for all of the
outstanding shares of Boise, PCA completed the second step merger under
Delaware law, making Boise a wholly-owned subsidiary of PCA.
At the effective time of the merger, all shares of Boise common stock
not purchased in the tender offer (excluding those shares for which
holders properly exercise appraisal rights under Delaware law and those
held by PCA or Boise or their respective wholly owned subsidiaries) were
converted into the right to receive $12.55 in cash, without interest and
less any required withholding taxes, which is the same price that was
paid for shares of Boise common stock purchased in the tender offer.
Boise common stock will no longer be listed on the New York Stock
Exchange or any other securities exchange.
About the new PCA
The combined company, headquartered in Lake Forest, IL, is the fourth
largest producer of containerboard and corrugated packaging products in
the United States. PCA will now operate eight mills and 97 corrugated
product plants and related facilities. PCA is the third largest producer
of uncoated freesheet paper in North America. Paper products include
imaging papers for the office and home, printing and converting papers,
and papers used in packaging, such as pressure sensitive papers.
This news release contains forward-looking statements that are based
on PCA's current expectations and beliefs and are subject to a number of
risks, uncertainties and assumptions that could cause actual results to
differ materially from those described. All statements, other than
statements of historical fact, are statements that could be deemed
forward-looking statements. Forward-looking statements involve
significant risks and uncertainties, including whether the anticipated
benefits of the acquisition of Boise can be achieved and those more
fully described in the Securities and Exchange Commission (SEC) reports
filed by PCA, including PCA’s most recent annual report on Form 10-K and
any subsequent periodic reports on Form 10-Q and Form 8-K. Please refer
to PCA’s most recent Forms 10-K, 10-Q and 8-K for additional information
on the uncertainties and risk factors related to PCA’s business. Unless
otherwise noted, PCA is providing this information as of Oct. 25, 2013,
and expressly disclaims any duty to update information contained in this
news release.
Source: Packaging Corporation of America
Packaging Corporation of America
Barbara Sessions
INVESTOR
RELATIONS: (877) 454-2509
PCA’s Website: www.packagingcorp.com