RockTenn to acquire Smurfit-Stone Container Corp

The aggregate consideration, consisting of 50% cash and 50% RockTenn stock, is valued at $35 per-share of Smurfit-Stone common stock, and represents a 27% premium to Smurfit-Stone’s closing stock price on 21 January 2011.

The aggregate equity value of the transaction, based on the closing price of RockTenn’s common stock on 21 January 2011, is approximately $3.5bn.

This strategic transaction will create a $9bn leader in the North American paperboard packaging market. Upon closing, RockTenn will maintain its headquarters in Norcross, GA.

Read the full statement at this link.

Source: RockTenn Company