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Stock Market & Financial Investment News

News Breaks
June 20, 2014
16:35 EDTVRTV, IPInternational 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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March 27, 2015
10:03 EDTVRTVOn The Fly: Analyst Initiation Summary
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07:17 EDTVRTVVeritiv initiated with an Outperform at William Blair
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March 25, 2015
07:07 EDTIPInternational Paper, Packaging Corp. can create value, says Wells Fargo
After evaluating the current leverage and capital allocation options of International Paper (IP) and Packaging Corp (PKG), Wells Fargo thinks the companies can create meaningful value by pursuing acquisitions and, to a lesser extent, share repurchases. The firm keeps Outperform ratings on both names.
March 23, 2015
08:09 EDTVRTVVeritiv reports Q4 EPS (88c), may not be comparable to consensus 35c
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08:09 EDTVRTVVeritiv sees FY15 adjusted EBITDA $165M-$175M
The company says it is on track to deliver net synergies of $150M-$225M.

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