RockTenn (RKT) Tops Q1 EPS by 16c

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Rock-Tenn (RKT), MeadWestvaco (MWV) Enter $16B Merger Agreement

January 26, 2015 6:14 AM EST

Rock-Tenn Company (RockTenn) (NYSE: RKT) and MeadWestvaco Corporation (MWV) (NYSE: MWV) today announced that they have entered into a definitive combination agreement to create a leading global provider of consumer and corrugated packaging (NewCo) in a transaction with a combined equity value of $16 billion. The combined company, to be named prior to closing, will have combined net sales of $15.7 billion and adjusted EBITDA of $2.9 billion, including the impact of $300 million in estimated annual synergies to be achieved over three years.

Under the terms of the agreement, which has been... More