Expansionist aims for Packaging Corp. of America. The American company has reached an agreement to buy the packaging and paper products company Boise Inc. for about 1,28 billion dollars. And both titles are now flying to Wall Street.
Boise shareholders will receive $12,55 in cash for each stock tendered in the offer, a 26% premium over last Friday's closing levels. The alignment of the price of Boise shares was immediate, which at the Nyse rose by about 27%, reaching 12,57 dollars. Packaging shares also did well, gaining more than 5%.
