Packaging Corp. of America Closes Boise Acquisition

Following the end of a tender offer, Packaging Corp. of America is now the owner of Boise . The company announced that with the expiration of the offer at midnight this past Thursday, Boise has become its wholly owned subsidiary.

Packaging Corp. had offered $12.55 per share in cash for each Boise share. All told, just over 67.4 million shares were tendered, or roughly 66.8% of the outstanding stock. All shares not purchased in the offer have officially been converted into the right to receive that $12.55 offering price.

Boise, currently listed on the New York Stock Exchange, will be delisted in the near future.

Packaging Corp. initially announced its intention to acquire the company this past September.

The article Packaging Corp. of America Closes Boise Acquisition originally appeared on Fool.com.

Fool contributor Eric Volkman and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.