GP bought by Koch giant
November 14, 2005 By Pulp & Paper Canada
It will be the largest privately owned company in the U.S. A $13.2 billion transaction will see Georgia-Pacific abs…
It will be the largest privately owned company in the U.S. A $13.2 billion transaction will see Georgia-Pacific absorbed by Koch Industries, pushing the Kansas-based Koch’s annual revenue upwards of $80 billion.
Koch is gearing up to launch a cash tender offer for all its outstanding shares of Georgia-Pacific common stock no later than November 19th.
“This transaction is the most dramatic step in Georgia-Pacific’s history and its transformation,” A.D. Correll, chairman and CEO said of the deal.
All of Georgia-Pacific’s North American and international consumer products segments, building products, packaging, paper and bleached board segments were included in the sale.
Although the transaction marks Koch’s first move into the consumer products industry, the company bought Georgia-Pacific’s non-integrated market and fluff pulp operations at New Augusta, MS and Brunswick, GA in May 2004.
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