Rock-Tenn Co. of Georgia buys the company
ONTONAGON -- Rock-Tenn Co., a firm out of Georgia, has bought the Smurfit-Stone Container Corporation for $3.5 billion in cash and stock, according to the Wall Street Journal.
The sale comes just seven months after Smurfit emerged from bankruptcy.
What effect the sale will have on the closed-down Smurfit plant in Ontonagon is uncertain at this point.
Rock-Tenn is a maker of packaging for food and consumer products, while Smurfit made containerboard and corrugated boxes.
According to the Journal, the deal had been in negotiations for the past two months. In addtion to the $3.5 billion purchase price, Rock-Tenn is also assuming $1.8 billion in Smurfit-Stone's debt and pension liabilities.
Rock-Tenn is based in Norcross, Georgia.
TV Station Profiles & Public Inspection Files forWLUC