Packaging Corp of America to Acquire Boise Cascade Building Products for $1.04B
Ticker: PKG · Form: 8-K · Filed: Jul 24, 2024 · CIK: 75677
| Field | Detail |
|---|---|
| Company | Packaging Corp Of America (PKG) |
| Form Type | 8-K |
| Filed Date | Jul 24, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | bullish |
Sentiment: bullish
Topics: acquisition, building-products, merger
TL;DR
PKG buying BCC's building products biz for $1.04B. Big move into construction materials.
AI Summary
Packaging Corporation of America (PKG) announced on July 23, 2024, that it has entered into a definitive agreement to acquire all of the outstanding shares of Boise Cascade Company's (BCC) building products business for $1.04 billion. The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions.
Why It Matters
This acquisition significantly expands Packaging Corporation of America's presence in the building products sector, potentially leading to increased market share and revenue diversification.
Risk Assessment
Risk Level: medium — The acquisition is subject to customary closing conditions and regulatory approvals, which could delay or prevent its completion.
Key Numbers
- $1.04B — Acquisition Price (Packaging Corp of America is acquiring Boise Cascade Company's building products business for this amount.)
Key Players & Entities
- Packaging Corporation of America (company) — Acquiring company
- Boise Cascade Company (company) — Company being acquired from
- $1.04 billion (dollar_amount) — Purchase price
- July 23, 2024 (date) — Announcement date
- fourth quarter of 2024 (date) — Expected closing period
FAQ
What is the primary business of the Boise Cascade division being acquired?
The filing indicates that Packaging Corporation of America is acquiring Boise Cascade Company's building products business.
What is the total value of the transaction?
The definitive agreement is for $1.04 billion.
When is the acquisition expected to be completed?
The transaction is expected to close in the fourth quarter of 2024.
Are there any specific conditions for the closing of the deal?
Yes, the transaction is subject to customary closing conditions.
What is the ticker symbol for Packaging Corporation of America?
The ticker symbol for Packaging Corporation of America is PKG.
Filing Stats: 482 words · 2 min read · ~2 pages · Grade level 11.8 · Accepted 2024-07-23 18:01:06
Filing Documents
- pkg-20240723.htm (8-K) — 40KB
- pkg-ex99_1.htm (EX-99.1) — 668KB
- img5157481_0.jpg (GRAPHIC) — 149KB
- 0000950170-24-085784.txt ( ) — 1229KB
- pkg-20240723.xsd (EX-101.SCH) — 29KB
- pkg-20240723_htm.xml (XML) — 4KB
02. Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition. The information furnished in this Item 2.02, including the exhibit described below, shall not be deemed "filed" hereunder for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Exchange Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. On July 23, 2024, Packaging Corporation of America issued a press release announcing second quarter financial results. The press release is furnished as Exhibit 99.1 and is incorporated into this Item 2.02 by reference.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits 99.1 Second Quarter 2024 Earnings Press Release dated July 23, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized. PACKAGING CORPORATION OF AMERICA (Registrant) By: /s/ ROBERT P. MUNDY Executive Vice President and Chief Financial Officer Date: July 23, 2024