International Paper (IP) Announces DOJ Conclusion to Review of Weyerhaeuser Pulp Business Acquisition
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The U.S. Department of Justice has concluded its Hart-Scott-Rodino review of International Paper's (NYSE: IP) announced acquisition of Weyerhaeuser's pulp business without taking any action. Regulatory reviews in other non-U.S. jurisdictions are ongoing. Completion of the transaction is expected to occur in the fourth quarter of 2016.
On May 2, 2016, International Paper announced it had signed a definitive agreement with Weyerhaeuser to acquire its pulp business. Under terms of the agreement, IP will acquire five pulp mills and two converting facilities that produce fluff pulp, softwood pulp, and specialty pulp for a number of consumer applications including diapers, other hygiene products, tissue, and textiles.
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