Buckeye Technologies Merger Becomes Official At Midnight


(Memphis) A deal by Atlanta-based Georgia Pacific to purchase Memphis-based Buckeye Technologies is expected to close at midnight on August 23.

The companies worked out a $1.5 billion takeover, which gave Georgia-Pacific 100% ownership of Buckeye Technology stock.

Buckeye’s shares were trading for $37.50 per share before Wall Street’s closing bell Thursday.

Some financial experts expect Georgia Pacific to sell off some of Buckeye’s facilities.