This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Georgia-Pacific Commences Cash Tender Offer For All Shares Of Buckeye Technologies Inc. At $37.50 Per Share

ATLANTA, May 7, 2013 /PRNewswire/ -- Georgia-Pacific LLC today announced that an entity controlled by Georgia-Pacific, GP Cellulose Group LLC, has launched its previously announced tender offer for all of the outstanding shares of common stock of Buckeye Technologies Inc. (NYSE: BKI) at $37.50 per share net to the holder in cash.

(Logo:  http://photos.prnewswire.com/prnh/20030425/PAPLOGO )

On April 24, 2013, Georgia-Pacific announced that Buckeye Technologies, Georgia-Pacific and GP Cellulose Group had signed a definitive merger agreement and that the tender offer would follow.  The board of directors of Buckeye Technologies unanimously approved the terms of the merger agreement, including the tender offer, and recommended that Buckeye Technologies stockholders tender their shares in the offer.

Under terms of the merger agreement, after the completion of the tender offer and the satisfaction or waiver of all conditions, Buckeye Technologies will merge into Georgia-Pacific's GP Cellulose Group, and all outstanding shares of Buckeye Technologies' common stock, other than shares held by Georgia-Pacific, GP Cellulose Group or Buckeye Technologies, or shares held by stockholders of Buckeye Technologies who have and validly exercise appraisal rights under Delaware law, will be cancelled and converted into the right to receive $37.50 per share, net to the holder in cash. 

The completion of the tender offer is subject to, among other things, the expiration or termination of any waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, the receipt of other required regulatory approvals and other customary closing conditions, and requires at least 75 percent of the outstanding shares of Buckeye Technologies' common stock on a fully-diluted basis to be tendered, consistent with the threshold for approval of a merger specified in Buckeye Technologies' certificate of incorporation. The transaction is not conditioned on financing.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs