Georgia-Pacific, the maker of Brawny paper towels, Dixie paper cups and Angel Soft tissue, has agreed to be acquired for more than $13 billion...
NEW YORK — Georgia-Pacific, the maker of Brawny paper towels, Dixie paper cups and Angel Soft tissue, has agreed to be acquired for more than $13 billion by Koch Industries, a deal that would create the nation’s biggest private company.
The $13.2 billion cash deal announced Sunday also calls for Koch to assume $7.8 billion in Georgia-Pacific debt and will result in the Atlanta company becoming a wholly owned subsidiary of Koch.
The deal values Georgia-Pacific at $48 a share, a 38.5 percent premium over its closing price of $34.65 Friday.
Koch, based in Wichita, Kan., is a commodities conglomerate that operates refineries and pipelines, trades commodities and manufactures pulp, paper and fibers. It has 30,000 employees.
Most Read Stories
- Seattle Zestimates are off by $40,000; now hundreds of data crunchers vie to improve Zillow’s model
- 2 men shot at Seattle’s Gas Works Park; suspect sought
- Seattle once again nation’s fastest-growing big city; population exceeds 700,000 | FYI Guy
- Off-lease used cars are flooding market, pushing prices down
- 2 Bellevue High students investigated in alleged rape of 14-year-old girl at Yarrow Point party