fourkids_9pets
9 년 전
WestRock Announces Final RockTenn Shareholder Merger Consideration Election Results
NORCROSS, Ga., July 2, 2015 (GLOBE NEWSWIRE) -- WestRock Company (WestRock) (NYSE:WRK) today announced the final results of the elections made by former RockTenn shareholders as to the form of merger consideration they wished to receive in connection with the combination of Rock-Tenn Company (RockTenn) and MeadWestvaco Corporation (MWV) into WestRock.
As previously announced, under the terms of the business combination agreement, by and among RockTenn, MWV, WestRock, Rome Merger Sub, Inc. and Milan Merger Sub, LLC, subject to proration, allocation and certain limitations set forth in the business combination agreement, shareholders of RockTenn had the option to elect to receive for each share of RockTenn common stock (except for excluded shares and dissenting shares as more particularly set forth in the business combination agreement):
the right to receive an amount in cash equal to $63.549, the volume weighted average price per share of RockTenn common stock on the New York Stock Exchange for the consecutive period over the five trading days immediately preceding (but not including) the third trading day prior to the effective time of the combination (the "Cash Consideration"); or
the right to receive one fully paid and nonassessable share of WestRock common stock (the "Stock Consideration").
The final merger consideration election results were as follows:
holders of 88,334,128 shares of RockTenn common stock, or approximately 62.7% of the outstanding shares of RockTenn common stock, elected to receive the Stock Consideration;
holders of 12,904,570 shares of RockTenn common stock, or approximately 9.2% of the outstanding shares of RockTenn common stock, elected to receive the Cash Consideration; and
holders of 39,648,405 shares of RockTenn common stock, or approximately 28.1% of the outstanding shares of RockTenn common stock, failed to make a valid election prior to the election deadline.
Because the Cash Consideration option was oversubscribed, the consideration to be received by the holders who elected the Cash Consideration was prorated pursuant to the terms set forth in the business combination agreement. Following the proration:
former RockTenn shareholders who elected to receive the Stock Consideration received the Stock Consideration;
former RockTenn shareholders who failed to make a valid election prior to the election deadline received the Stock Consideration; and
former RockTenn shareholders who elected to receive the Cash Consideration received, for each share of RockTenn common stock they held (except for excluded shares and dissenting shares as more particularly set forth in the business combination agreement), 0.1856 fully paid and nonassessable shares of WestRock common stock and an amount in cash equal to $51.7514.
The combination closed on July 1, 2015.
About WestRock
WestRock Company (NYSE:WRK) aspires to be the premier partner and unrivaled provider of paper and packaging solutions in consumer and corrugated markets. WestRock's 42,000 team members support customers around the world from approximately 275 operating and business locations spanning North America, South America, Europe and Asia. Learn more at westrock.com.
Investor Contacts:
John Stakel
Senior Vice President, Treasurer
678-291-7901
john.stakel@westrock.com
Jason Thompson
Director, Investor Relations
804-444-2556
jason.thompson@westrock.com
Media Contact:
Tucker McNeil
Director, Corporate Communications
804-444-6397
mediainquiries@westrock.com
WestRock Company
mahatmapaul
10 년 전
Where did all the PTOI/JBII professional pumpers (who actually created this RKT board to pump the JBII scam) go??
Rawnoc, village, waikikan (sp?), and, of course ........... 4kids9pets
Where are you?
I guess "irrefutable" doesn't have the same meaning in Rawnocese as it does in Standard English, does it?
I miss Rawnoc's vulgar PMs (which included threats that they would find out where I lived and ......... fill in the rest).
God I miss you guys.
I guess JBII didn't pan out. (Of course, being a scam, it "panned out" just fine for the Gang of 4 above and for JB himself).
RKT, for those who actually invested, has been a heck of a fine investment.
Village_Pub
10 년 전
Picking up some, RKT at 1/2 price, should be sweet, after the split, knowing they are, in the plastics, recycling business now. JBII opened their, eyes to that, avenue.
Village_Pub
10 년 전
On July 28, 2014, we announced that our board of directors had authorized a two -for-one stock split of our Common Stock to be effected in the form of a 100% stock dividend. Shareholders of record as of August 12, 2014 (the “ Record Date ”), will receive one additional share of Common Stock for each share they held on the Record Date. The distribution date for the stock split, or the date new shares will be distributed from our transfer agent (the “ Distribution Date ”) will be August 27, 2014.
mahatmapaul
10 년 전
another 3 months and ............
........ as predicted .........
..... NOTHING
Where are Rawnoc and the other consultant-pumpers of JBII (aka The Gang of 14)?
Remember the hysterical responses whenever I simply pointed out that JBI is, has been, and always will be a scam, right from its inception? And that this simple fact meant that all announcements of "agreements" and "partnerships" coming from Bordynuik can be nothing whatsoever but empty words meant to confuse and exhilarate the naive (and stupid, frankly, if you are to read the IHANG jbii board ... god, what a lot of freakin' idiots!)
Like shooting fish in a barrel. Just too easy
Of course, no true investor in RKT has any reason to read a board whose creation (by JBII pumpers) and purpose was to pump a scam .... as if RKT, a multi-billion dollar (and very well run) company would need any help from con artists, shills, and grifters!
Congratulations to any true RKT investors out there. It's a great company, and I wish I actually had invested in it, but at least none of my money went to Bordynuik and his team of scamsters.
mahatmapaul
11 년 전
Yesterday, one of the JBII "longs" posted that he faulted RKT for "unwillingness" to share some of the expenses entailed by the "agreement".
So, as predicted, RKT is now being "thrown under the bus" to explain the absolute lack of any action regarding this "agreement" with JBII.
I CANNOT BELIEVE THAT ANYONE COULD BELIEVE THIS .... YET SOME DO
Read the response below for details of this very inaccurate (some may say "deceptive") post trying to shift blame to RKT.
Simply unbelievable. RKT investors should feel insulted by these types of posts, so typical of MB posts that pump "shady" (IMO) enterprises. And, this poster has posted this "RKT is unwilling ..." lie more than once, even after IRREFUTABLY being shown that the agreement with JBII puts responsibility for all expenses on JBII. And, he/she will probably post this lie again.
jaxstraw Sunday, 03/30/14 02:47:54 PM
Re: <iron eye> post# 263637
Post # of 263750
JBI signed an agreement with Rock Tenn in 2011 that says:
"JBI shall, prior to commencing construction, installation or operation of any improvements or the JBI Machines, obtain, at JBI’s own expense, all governmental approvals and permits as may be necessary to comply with applicable Laws."
"JBI shall,at its sole expense, supply, install and begin operation of:
(a) the JBI Machine as described in an Agreement Addendum;
(b) Each subsequent JBI Machine shall be installed in accordance with each Agreement Addendum; and
(c) Any other equipment, structure or other items described more particularly in each Agreement Addendum
Good grief.....how did this possibly morph into this bulls&&t ?
The RockTenn "opportunity" involved significant infra-structure and permitting costs with a company, RockTenn, that has not yet shown any willingness to participate in sharing those costs to implement the installation of JBI processors at their sites.
mahatmapaul
11 년 전
Big deal. lower highs, lower lows.
Enron also had some of these "pops" as it was close to its death.
When I started following the JBII/RKT "connection", JBII's pps was $1.43.
I follow what I believe are scams such as JBII from a detached standpoint. I don't invest in them obviously, and, unfortunately, I've never shorted any stocks.
but, I should have taken taken the advice of someone who is very familiar with these OTC scams (and had been following Bordynuik's machinations from the beginning), and started shorting JBII @ 1.43.
Darn.
Anyway, how is the JBII-RKT "partnership" doing? A while back, I wrote that nothing would come of this, because it is basically an empty agreement meant to dupe the naive into parting with more of their money.
I was excoriated by certain parties.
So, what concrete (pun intended) steps have been taken with the "giddy with excitement" folks at RKT to implement this partnership? Any evidence that would support more "excoriation"?
Just too funny, sometimes
mahatmapaul
11 년 전
Ya RKT was meandering in the 30's when they expanded into the plastic recycling business once they contracted with JBI. They PR'd its importance, look it up.
FALSE
ALL.... and I mean ALL ... of the communications about this "partnership" on the internet originate from the JBI propaganda machine. RKT has never issued anything about this "partnership". NOTHING.. They have an incredibly comprehensive, archived website with materials going back decades. Just search on the RKT website for "JBI", "Bordynuik", "plastic2oil" or any of another dozen key terms, and you get 0 hits.
JBI's pps has plummeted more than 50% in the last two days. Finally, the true believers (and I'm not referring to the paid pumpers who normally receive shares of stock for their pumping) are beginning to see the light on this scam; true believers ignore logic and facts, but inevitably "see the light" only when their pocket books blow up.
10times7
11 년 전
Ya RKT was meandering in the 30's when they expanded into the plastic recycling business once they contracted with JBI. They PR'd its importance, look it up.
So, Bordynuik is being compared to, say, Joseph Strauss (designer of the Golden Gate Bridge)??
if you say so
so lets talk about RKT's engineering marvel, whats the name of their process?
JBI's is P20
mahatmapaul
11 년 전
Why would Rock Tenn pull such a stunt? Before the Smurfit Stone merger RKT traded in the 30.00's. Because of P20 they have discovered that plastic has become a valuable commodity where before it was itself garbage.
So, you are saying that RKT (a HUGE enterprise) saw their pps go from $30's to $100+ as a result of learning from JB just how valuable plastic is ??? That JB's "engineering marvel" made RKT shareholders BILLIONS OF DOLLARS?? Are you really saying this??
I wonder how the folks at RKT (probably few of whom would ever visit an SMB promotional site) would react to the above?
They were unsuccessful in their attempts to reverse engineer Bordynuiks engineering marvel
" .... Bordynuiks engineering marvel ..." ???????
So, Bordynuik is being compared to, say, Joseph Strauss (designer of the Golden Gate Bridge)??
I can just see Bordynuik during communications with the CONsultants: "I'm a little ticked off with you guys lately. Please remember to point out that I have constructed an engineering marvel!"
An "engineering marvel" that, mysteriously, continues to produce fuel that costs a lot more to produce than it's worth on the market.
mahatmapaul
11 년 전
IMO: that is an absolutely laughable point of view.
Just two years ago, "investors" were being inundated (BY JB, NOT BY RKT) with what in hindsight has been shown to be pure propaganda about the glories of the RKT partnership (even though the "agreement" between JBI and RKT is laughable ... have you even read it??)
IMO: The point of view you just proposed is a very weak attempt by JB himself to construct an "exit strategy":
JB: GOOD!
JB: HONEST!
JB: HARD-WORKING!
JB: GENIUS!
BOGOLIN: BAD
RAUBER: BAD
WHALES: GOOD .... then VERY BAD for trying to steal the "technology" .... WHAT TECHNOLOGY??
And when the whole shebang finally collapses, JB will try to walk away with "Hey, it's not my fault! I'm an honest, hard-working genius whose creation was destroyed by others!" This may work, given the incredible naivete of "investors" on the OTC.
waikikian
11 년 전
RockTenn Announces Dividend; Increases Annualized Dividend by 17 Percent to $1.40 per Share
NORCROSS, Ga., Oct. 25, 2013 (GLOBE NEWSWIRE) -- RockTenn today reported that its Board of Directors declared a dividend of $0.35 per share on its Class A Common Stock to shareholders of record at the close of business on Nov. 5, 2013. The dividend, which will be paid on Nov. 18, 2013, represents an annual dividend rate of $1.40 per share. This is the company's second dividend increase this year.
"The board's action to increase the annual dividend speaks to our continued confidence in our overall outlook for the long-term profitability and cash flow generation of our business," said Jim Rubright, Chairman and Chief Executive Officer.
RockTenn (NYSE:RKT) is one of North America's leading integrated manufacturers of corrugated and consumer packaging. RockTenn's 26,000 employees are committed to exceeding their customers' expectations — every time. The Company operates locations in the United States, Canada, Mexico, Chile, Argentina and China. For more information, visit www.rocktenn.com.
Cautionary Statements
Certain statements in this press release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on our current expectations, beliefs, plans or forecasts and use words such as will, estimate, anticipate, project, intend, or expect, or refer to future time periods, and include statements made in this release regarding, among other things our confidence in our overall outlook for the long-term profitability and cash flow generation of our business. These statements are subject to certain risks and uncertainties including with respect to our expectations regarding economic, competitive and market conditions generally; expected volumes and price levels of purchases by customers; fiber and energy costs; costs associated with facility closures; competitive conditions in our businesses and possible adverse actions of our customers, our competitors and suppliers. These expectations are based on assumptions that management believes are reasonable; however, undue reliance should not be placed on these forward-looking statements because these risks and uncertainties could cause actual results to differ materially from those contained in any forward-looking statements. There are many other factors and uncertainties that impact these forward-looking statements that we cannot predict accurately, including our ability to achieve benefits from the Smurfit-Stone acquisition, including synergies, performance improvements and successful implementation of capital projects. Further, our business is subject to a number of general risks that would affect any such forward-looking statements including, among others, decreases in demand for our products; increases in energy, raw materials, shipping and capital equipment costs; reduced supply of raw materials; fluctuations in selling prices and volumes; intense competition; the potential loss of certain key customers; changes in environmental and other governmental regulation; and adverse changes in general market and industry conditions. These risks are more particularly described in our filings with the Securities and Exchange Commission, including under the caption "Business?Forward-Looking Information" and "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended September 30, 2012. The information contained in this release speaks as of the date hereof and we do not undertake any obligation to update this information as future events unfold.
RockTenn
John Stakel, 678-291-7901
Senior Vice President-Treasurer
jstakel@rocktenn.com
fourkids_9pets
11 년 전
Worriers May Have Overdone it on Rock-Tenn -- Market Talk
BY Dow Jones & Company, Inc.
— 11:50 AM ET 10/10/2013
11:50 EDT - Rock-Tenn's (RKT) 21% skid inside the past month provides a buying opportunity, says DA Davidson as it upgrades the paper-and-packaging firm to buy. The investment bank believes "consolidation within the containerboard industry is a theme with staying power," and that RKT represents "the leveraged way to play" the sector. It bought Smurfit-Stone in 2011, but RKT ran into some integration issues. They seem to have finally been resolved as F3Q earnings more than doubled; last quarter's results are due Nov. 4. RKT shares have been hit of late by "reduced sentiment following a series of poor box stats," says DA Davidson. "We think business fundamentals will rectify themselves." RKT rises 3.7% to $103.68 in easily outpacing the broad market rebound. (joe.melvin@ wsj.com)
(END) Dow Jones Newswires
10-10-13 1150ET
Copyright (c) 2013 Dow Jones & Company, Inc.
==
4kids
all jmo
fourkids_9pets
11 년 전
Nice PM jump on RKT (122 and change)
per cnbc due to acq within the sector (bz)
Packaging Corp offers to buy Boise for $1.28 bln
BY Reuters
— 7:58 AM ET 09/16/2013
* Packaging Corp offers $12.55/share
* Says containerboard capacity to increase 42 pct
* Deal includes $714 mln in Boise's debt
* Boise shares trading at $12.53, Packaging Corp shares jump 10 pct (Adds details)
Sept 16 (Reuters) - Packaging Corp of America (PKG) said it would acquire smaller rival Boise Inc (BZ) for about $1.28 billion to boost its container board capacity.
Packaging Corp's offer of $12.55 per share represents a premium of 26 percent to Boise's Friday close.
Boise shares were trading at $12.53 before the bell. Packaging Corp shares jumped 10 percent to $60.03.
Packaging Corp, the fourth-largest maker of containerboard and corrugated packaging products in the United States, said it would assume Boise's $714 million debt.
The deal, expected to add to earnings immediately, will increase Packaging Corp's containerboard capacity by 42 percent to 3.7 million tonnes.
The company also said the acquisition will boost its presence in the Pacific Northwest.
Packaging Corp was advised by BofA Merrill Lynch while JP Morgan Securities LLC advised Boise.
(Reporting by Rohit T. K. in Bangalore; Editing by Saumyadeb Chakrabarty)
===
4kids
all jmo
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