Packaging company WestRock to buy KapStone for $4.9B

MarketsReuters

U.S. packaging company WestRock Co (NYSE:WRK) said on Monday it would buy KapStone Paper and Packaging Corp (NYSE:KS) for an enterprise value of about $4.9 billion, to help expand in the western United States.

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The $35-per-share offer represents a premium of 32 percent to KapStone stock's Friday close.

WestRock would also assume net debt of about $1.36 billion, the companies said.

(Reporting by Arunima Banerjee in Bengaluru; Editing by Sriraj Kalluvila)