Graphic Packaging, the beverage carton provider, has bought folding carton producer Altivity Packaging in a $750 million deal.
The transaction will create an estimated $4.4 billion (combined revenue) company, which will be known as Graphic Packaging Holding Company.
Including assumed debt of about $1.1 billion, and based on the average of $4.92 per share Graphic Packaging was trading at in the 30 days prior to the announcement, the deal was initially worth $1.75 billion.
The transaction is expected to be completed in the fourth quarter of 2007, subject to shareholder and regulatory approvals.
Source: packaging-technology
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