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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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May 21, 2015
08:41 EDTVRTVVeritiv management to meet with SunTrust
Meetings to be held in Boston on May 21 and in New York on May 22 hosted by SunTrust.
May 20, 2015
16:41 EDTIPInternational Paper CEO says expects 2H will be stronger than 1H for the company
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May 19, 2015
07:15 EDTIPGoldman Sachs to hold a conference
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May 13, 2015
08:03 EDTVRTVVeritiv backs FY15 adjusted EBITDA $165M-$175M
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08:03 EDTVRTVVeritiv reports Q1 EPS (14c), consensus 27c
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