January 28, 1987
Stone Container Corp. said Southwest Forest Industries Inc. had agreed to a $445-million buyout offer that would create one of the nation's 10 biggest paper products concerns, with sales of about $2 billion. Stone will pay $32.25 cash for each the 13.7 million outstanding shares of Southwest, including options and convertible stock.
November 12, 1998 |
Danaher Corp. (ticker symbol: DHR), a Washington-based maker of tools and auto components, will replace Stone Container Corp. in the Standard & Poor's 500 index at the close of trading Tuesday. Jefferson Smurfit Corp. is acquiring Stone Container, and the transaction is expected to close that day. Stocks of companies that join the S&P 500 sometimes get a boost because mutual funds that seek to track the blue-chip index must buy shares. Danaher closed unchanged Wednesday at $40.
February 15, 1997 |
Abitibi-Price Inc., the world's largest newsprint producer, has agreed to merge with its main competitor, Stone-Consolidated Corp., in a deal worth about $1.7 billion. Falling paper prices have been squeezing profits industrywide, producing the kind of environment that often drives companies to combine so they can operate more efficiently.
January 26, 1989 |
Stone Container Corp. announced today it intends to make a $2.2-billion offer for Consolidated-Bathurst Inc. of Quebec, one of Canada's largest paper and packaging companies. Stone Container, based in Chicago, is the world's largest producer of unbleached containerboard and kraft paper, and converts those products into containers and bags. The offer, which amounts to 25 Canadian dollars per common share, would include about 102.
May 12, 2006 |
Smurfit-Stone Container Corp. said it had agreed to sell its consumer packaging segment to private equity investor Texas Pacific Group for about $1.04 billion in cash. The company, which is in the midst of a turnaround plan, said it planned to use essentially all of the proceeds from the sale to reduce debt.