Deals
Koch’s Georgia-Pacific to Purchase Buckeye for $1.45 Billion
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Georgia-Pacific LLC, the U.S. paper and pulp producer controlled by the Koch brothers, agreed to buy Buckeye Technologies Inc. for about $1.45 billion to add cellulose products used in baby wipes and tires.
Closely held Georgia-Pacific will pay $37.50 a share, the companies said in a statement today. That’s 25 percent more than Memphis, Tennessee-based Buckeye’s closing price yesterday. The shares rose to $37.86 in New York, the biggest gain in five years.