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Stock Market & Financial Investment News

News Breaks
June 20, 2014
16:35 EDTIP, VRTVInternational Paper announces distribution ratio for xpedx spinoff
International Paper (IP) announced the definitive distribution ratio for the spinoff of its distribution solutions business, xpedx. Subject to the satisfaction of certain conditions, International Paper stockholders will receive on the distribution date, July 1, 0.0188 shares of Veritiv Corporation (VRTV) common stock for each share of International Paper common stock they owned as of 5:00 pm EST on June 20, the record date set by International Paper's board of directors. International Paper shareholders will not receive fractional shares of Veritiv common stock. Instead, fractional shares of Veritiv common stock will be aggregated and sold in the open market, with the net proceeds distributed pro rata in cash payments to the International Paper shareholders who would otherwise receive a fractional share of Veritiv common stock. The closing of the spinoff of International Paper's distribution business, xpedx, and the subsequent merger with UWW Holdings, the parent company of Unisource Worldwide, are scheduled to occur on July 1.
News For IP;VRTV From The Last 14 Days
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November 25, 2014
07:42 EDTVRTVVeritiv initiated with a Neutral at SunTrust
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November 20, 2014
05:31 EDTIPInternational Paper initiated with a Market Perform at Wells Fargo
November 13, 2014
08:04 EDTVRTVVeritiv sees FY14 adjusted EBITDA $135M-$145M
08:03 EDTVRTVVeritiv reports Q3 EPS (88c), not comparable to consensus $1.04
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