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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.
News For GPK From The Last 14 Days
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January 29, 2015
09:20 EDTGPKIridian Asset reports 9.8% passive stake in Graphic Packaging
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January 27, 2015
06:21 EDTGPKGraphic Packaging, Packaging Corp. could be targets, says Citigroup
Citigroup believes the merger between Rock-Tenn (RKT) and MeadWestvaco (MWV) makes sense and that the combined company has 16% upside potential from current levels. Citi believes the $300M synergy target could prove conservative and raised its price target for Rock-Tenn shares to $77 from $72. It thinks smaller players in the Paper & Forest products space, Graphic Packaging (GPK) and Packaging Corp. (PKG), could be potential takeover targets either for an acquirer or for a merger following the Rock-Tenn/MeadWestvaco deal. Citi views International Paper (IP) as a potential acquirer.
January 23, 2015
08:19 EDTGPKBofA/Merrill paper/forest products analyst hold analyst/industry conference call
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