Paper and packaging company
( LFB) postponed its proposed common stock and notes offerings.
The offer was for 10 million shares of its common stock and $150 million of senior unsecured notes due 2016. Longview also canceled the tender offer and consent solicitation for its outstanding 10% senior subordinated notes due 2009.
The company said it will proceed with the offering whenever, in its judgement, it was appropriate to do so.
These offerings and the related tender offer and consent solicitation were part of the company's refinancing in connection with its conversion to a real estate investment trust, it said.
On Monday, Longview said it rejected an offer from two firms to buy the company for $26 a share. The company said it was in its best interests of Longview to complete the REIT conversion process
The company's stock recently was trading at $23.77, up 80 cents, or 3.5%.
This story was created through a joint venture between TheStreet.com and IRIS.