October 31, 2011
On October 31, 2011, pursuant to an Agreement and Plan of Merger, dated as of September 22, 2011, by and among KapStone Kraft Paper Corporation, a wholly owned subsidiary of KapStone Paper and Packaging Corporation (NYSE: KS), U.S. Corrugated Acquisition Inc., Pine Merger Corp., Dennis Mehiel and Dennis Dorian Mehiel (the “Merger Agreement”), KapStone Kraft Paper Corporation consummated its previously announced agreement to acquire U.S. Corrugated Acquisition Inc. from its stockholders by merger in a debt-free, cash-free transaction. The purchase price at closing was approximately $330 million and is subject to a post-closing target working capital adjustment.
In addition, pursuant to the Merger Agreement, six of U.S. Corrugated Acquisition Inc.’s converting facilities (and certain related assets) were sold by U.S. Corrugated Acquisition Inc. to a team of investors (the “Investor Team”) prior to the closing and were not acquired by KapStone Kraft Paper Corporation.
The Firm represented U.S. Corrugated Acquisition Inc., Dennis Mehiel, Dennis Dorian Mehiel, and the Investor Team in connection with the foregoing transactions.
A copy of KapStone Paper and Packaging Corporation’s Form 8-K, which was filed with the United States Securities and Exchange Commission on October 31, 2011, can be accessed by clicking here.