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
- Swastika-wearing man punched on Seattle street, removes swastika, police say
- 'Polite Robber' suspect told similar sob story when arrested 8 years ago
- Pete Carroll on Seahawks offense: 'There will be some things that will be a little bit different this week' WATCH
- In Seattle mayoral race between Jenny Durkan and Cary Moon, it’s the same old sexist nonsense | Nicole Brodeur
- U.S. Attorney General Jeff Sessions sips a 'Nuke Waste' during low-key visit to Kitsap