Packaging Corp. (PKG) Announces Completion of TimBar Acquisition
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Packaging Corporation of America (NYSE: PKG) announced that it has completed its acquisition of TimBar Corporation, a large independent corrugated products producer, in a cash-free, debt-free transaction. Funding for the acquisition came from a new $385 million five-year term loan facility.
PCA Chairman and CEO Mark Kowlzan said, “We are very pleased to complete this transaction and welcome our new employees to PCA. Integrating these new operations into PCA will quickly enhance our financial results while maintaining a strong balance sheet.”
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- China Biologic Products (CBPO) Announces Acquisition of Full Guizhou Taibang Ownership
- General Electric (GE) abandons SLM acquisition - Bloomberg
- Exclusive: Dr Pepper Snapple in talks to buy Bai Brands - sources
Create E-mail Alert Related CategoriesCorporate News, Mergers and Acquisitions
Related EntitiesEarnings, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!