KapStone Clears HSR for its Acquisition of Longview Fibre Paper and Packaging, Inc.

KapStone Clears HSR for its Acquisition of Longview Fibre Paper and Packaging,
                                     Inc.

PR Newswire

NORTHBROOK, Ill., June 28, 2013

NORTHBROOK, Ill., June 28, 2013 /PRNewswire/ -- KapStone Paper and Packaging
Corporation (NYSE: KS) ("KapStone") announced today that the U.S. Federal
Trade Commission ("FTC") has granted early termination of the waiting period
under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 ("HSR Act") in
connection with the previously announced acquisition of Longview Fibre Paper
and Packaging, Inc. ("Longview"). This means that the FTC and the Antitrust
Division of the U.S. Department of Justice have completed their review of the
submissions made by the parties in accordance with the rules promulgated under
the HSR Act and determined not to take any enforcement action with respect to
the proposed transaction during the HSR Act waiting period. The expiration or
termination of the waiting period was a condition to the closing of the
transaction.

As announced on June 10, 2013, KapStone Kraft Paper Corporation ("KapStone
Kraft"), a wholly owned subsidiary of KapStone, Longview and certain
affiliates of Brookfield Capital Management ("Brookfield") entered into an
agreement for KapStone Kraft to acquire the stock of Longview from Brookfield
in a cash free, debt free transaction for $1.025 billion in cash and subject
to certain post-closing adjustments. Closing of the acquisition is still
subject to approval from the Federal Energy Regulatory Commission in response
to the parties' joint application and other customary conditions. The
transaction is expected to close in the third quarter of this year.

About KapStone

Headquartered in Northbrook, IL, KapStone Paper and Packaging Corporation is a
leading North American producer of unbleached kraft paper and corrugated
products. The Company is the parent company of KapStone Kraft Paper
Corporation and KapStone Container Corporation which includes three paper
mills and 15 converting plants across the Eastern and Midwestern US. The
business employs approximately 2,700 people.

About Longview

Longview is a leading integrated manufacturer of high-quality, lightweight,
multiwall and specialty kraft papers and a leading integrated manufacturer of
corrugated containers and containerboard in the Pacific Northwest region. For
more information, visit www.longviewfibre.com.

SOURCE KapStone Paper and Packaging Corporation

Website: http://www.kapstonepaper.com
Website: http://www.longviewfibre.com
Contact: Andrea K. Tarbox, Vice President and Chief Financial Officer,
847.239.8812
 
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