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WestRock to buy Multi Packaging Solutions for $1.39 billion

Staff Writer |
Packaging giant WestRock Company will buy Multi Packaging Solutions International for about $1.39 billion to boost its portfolio of products that serve the spirits, confectionary, and cosmetics markets.

The offer price of $18 per share represents a premium of 25 percent to Multi Packaging Solutions' (MPS) close of $14.39 on Monday.

Norcross, Georgia-based WestRock, the second-largest U.S. packaging company behind International Paper, has entered and exited several investments over the past year, to streamline its portfolio and focus on its core paper and packaging businesses.

On Monday, WestRock sold its business that makes soap dispensers and perfume sprayers for about $1 billion.

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