Georgia-Pacific Shifts $1.5B Buckeye Buyout To Merger

Law360, New York (June 26, 2013, 4:52 PM EDT) -- Georgia Pacific LLC said Wednesday it will scrap a $1.5 billion tender offer for specialty fiber maker Buckeye Technologies Inc. and instead proceed with a long-form merger to close out its proposed takeover, a process that has been delayed by the government's antitrust review.

The decision came after the U.S. Department of Justice and Federal Trade Commission asked a second time for additional information and documents related to Georgia-Pacific's nonwovens unit. Under the new long-form structure, Buckeye shareholders will have an opportunity to vote on the...
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