Georgia-Pacific
LLC and Buckeye Technologies Inc. (BKI) today completed the previously
announced acquisition of Buckeye by Georgia-Pacific. Under the merger
agreement, all outstanding shares of Buckeye Technologies' common stock were
converted into the right to receive $37.50 per share, net to the holder in cash,
without interest, subject to any withholding of taxes required by applicable
law. The transaction was valued at approximately $1.5 billion, including debt.
As
a result of the merger, Georgia-Pacific acquired all of the outstanding stock
of Buckeye Technologies, including ownership of its five manufacturing
facilities, global sales offices and headquarters. Employees of Buckeye
Technologies (approximately 1,200) are now employees of Georgia-Pacific as
Buckeye becomes a wholly owned subsidiary.
