International Paper Finalizes $360M Norpac Acquisition
IP is trading near its 52-week low of $29.26 (14% above the low).
Summary
International Paper has completed its $360 million acquisition of North Pacific Paper Company. This follows the company's announcement on April 16th of its intent to acquire Norpac. The completion of this deal integrates Norpac's operations, expanding International Paper's portfolio and market presence in the packaging sector and removing any remaining transaction uncertainty.
At the time of this announcement, IP was trading at $33.23 on NYSE in the Manufacturing sector, with a market capitalization of approximately $17.9B. The 52-week trading range was $29.26 to $56.13. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.