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Stock Market & Financial Investment News

News Breaks
February 19, 2014
05:34 EDTGPKGraphic Packaging to acquire Benson Group for about $165M
Graphic Packaging announced that a European subsidiary has agreed to acquire Benson Group, a food and healthcare packaging company based in the U.K. Under the terms of the transaction, the purchase price equates to approximately $165M. The transaction will be funded with existing cash and borrowings from the company's current revolving line of credit. The Benson Group operates four folding carton facilities in the U.K. that convert approximately 80,000 tons of paperboard annually. The acquisition is subject to standard closing requirements and is expected to close in Q2. The acquisition is expected to generate $5M-$7M of synergies over the next 18 months.
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August 6, 2014
07:48 EDTGPKHighway bill could boost IP, RockTenn shares, says Jefferies
Jefferies notes the Senate and House agreed last week on the highway bill, which allows corporations to push out pension contributions. The firm thinks the bill will accelerate free cash flow generation for International Paper (IP), RockTenn (RKT) and Sonoco (SON). Jefferies believes shares of International Paper and RockTenn could move higher since the paper names are mainly valued on free cash flow. The firm does not expect much pension relief from the bill for Owens-Illinois (OI), Crown Holdings (CCK) and Graphic Packaging (GPK).

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