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Containers and Packaging

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  • Jan 26- Packaging companies Rock-Tenn Co and MeadWestvaco Corp agreed to form a combined $16 billion company to take on market leader International Paper Co in the United States and abroad. Shares of MeadWestvaco and Rock-Tenn rose to record highs. MeadWestvaco shareholders will have a 50.1 percent stake in the new company, which will be named before the deal...

  • *Rock-Tenn and MeadWestvaco rally, set to merge. NEW YORK, Jan 26- U.S. stocks were little changed on Monday after a decisive Greek election victory by the Syriza party spurred concern over fresh instability in the euro zone, even as the possibility of Greece leaving the bloc was considered remote. The leftist Syriza party looked set to take on Greece's...

  • US STOCKS-Wall Street lower after Greek elections Monday, 26 Jan 2015 | 9:56 AM ET

    *Rock-Tenn and MeadWestvaco rally, set to merge. NEW YORK, Jan 26- U.S. stocks fell on Monday after a decisive Greek election victory by the Syriza party spurred concern over fresh instability in the euro zone, even as the possibility of Greece leaving the bloc was considered remote. The leftist Syriza party looked set to take on Greece's international lenders, with...

  • MeadWestvaco, Rock-Tenn form $16B packaging biz Monday, 26 Jan 2015 | 7:24 AM ET
    MeadWestVaco building

    Packaging companies MeadWestvaco and Rock-Tenn are joining to form a new, $16 billion company.

  • Jan 26- Packaging companies Rock-Tenn Co and MeadWestvaco Corp said they would combine to form a company worth $16 billion, with MeadWestvaco shareholders owning a majority stake. In the new company, which will be named after the deal closes, MeadWestvaco shareholders will have a 50.1 percent stake, while Rock-Tenn shareholders will hold the rest.

  • Packaging companies Rock-Tenn, MeadWestvaco to merge Monday, 26 Jan 2015 | 6:26 AM ET

    Jan 26- Packaging companies Rock-Tenn Co and MeadWestvaco Corp said they would combine to form a company worth $16 billion, with MeadWestvaco shareholders owning a majority stake.

  • RICHMOND, Va.— Rock-Tenn and MeadWestvaco will join forces to create a $16 billion global packaging company, driving down its own costs and possibly gaining the scale to better dictate prices. The new company, which had not been named as of Monday, will have combined sales of $15.7 billion and its board will include eight directors from Rock-Tenn and six directors...

  • MeadWestvaco tops Street 4Q forecasts Monday, 26 Jan 2015 | 6:08 AM ET

    RICHMOND, Va. _ MeadWestvaco Corp. on Monday reported fourth-quarter earnings of $53 million. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share. MeadWestvaco shares have risen 1.5 percent since the beginning of the year, while the Standard& Poor's 500 index has stayed nearly flat.

  • U.S. stocks eked out tiny gains on Monday after spending much of the day drifting sideways. Traders welcomed news of several corporate mergers, including an $11 billion deal between reinsurers Axis Capital Holdings and PartnerRe. "Greece was the big driver," said Chris Gaffney, a senior market strategist at EverBank Wealth Management.

  • BUFFALO, N.Y.— Fisher-Price has long eschewed "professional" models for its packaging, instead using the babies and toddlers parents trundle in to the toy maker's headquarters in the quaint western New York village of East Aurora. And while there is no shortage of cute in the hamlet 20 miles southeast of Buffalo, with its old-school five-and-dime and vintage...

  • MeadWestvaco to sell European tobacco carton business Thursday, 22 Jan 2015 | 12:07 PM ET

    RICHMOND, Va.— Packaging company MeadWestvaco Corp. is selling its European-based tobacco folding carton business. MeadWestvaco says the business has annual revenue of about $190 million. Earlier this month, MeadWestvaco announced plans to spin off its specialty chemicals business into a separate, publicly traded company.

  • Greif misses 4Q profit forecasts Wednesday, 14 Jan 2015 | 5:36 PM ET

    DELAWARE, Ohio _ Greif Inc. on Wednesday reported fiscal fourth-quarter profit dropped by 90 percent to $8.7 million. Greif expects full-year earnings in the range of $2.25 to $2.35 per share. Greif shares have declined 7 percent since the beginning of the year.

  • The Container Store frustrated by mid-year traffic  Monday, 12 Jan 2015 | 3:27 PM ET

    Newly elected to NRF's board of directors, Kip Tindell, The Container Store CEO, discusses trouble with traffic in stores in Q2 and Q3. National Retail Federation CEO Matthew Shay, weighs in.

  • SEATTLE, Dec 4- Starbucks Corp Chief Executive Officer Howard Schultz, who introduced Americans to espressos, Frappuccinos and pumpkin spice lattes, is not about to let a bunch of well-funded independent coffee sellers beat his global chain at the super premium game. Starbucks' industrial-chic Reserve facility turns out small batches of Peaberry Sumatra and...

  • Nov 24- Canadian buyout firm Onex Corp said it would buy Swiss packaging group SIG Combibloc Group AG for up to 3.57 billion euros. The deal is expected to close in the first quarter of 2015, subject to regulatory approvals, Onex said. Reuters reported earlier this month that Onex, Canada's largest listed private equity firm, was leading the bidding for SIG...

  • The big four-- Tesco, Asda, Sainsbury and Morrisons-- still control 73 percent of UK grocery turnover but discounters such as Aldi and Lidl, e-commerce sites like Ocado and higher-end stores like Marks and Spencer and Waitrose are gaining ground. Unilever says it keeps margins with discounters, which account for over a billion euros of turnover, in line with its...

  • FRANKFURT/ LONDON, Nov 7- Buyout groups BC Partners, Onex and Partners Group are set to bid for Swiss packaging maker SIG Combibloc in an auction likely to raise less for seller New Zealand's Reynolds than initially seemed likely, sources familiar with the matter said. Reynolds, backed by New Zealand's richest man, is looking to sell SIG Combibloc to reduce debt.

  • OEP, which is 50 percent owned by JP Morgan, has received several expressions of interest from rival buyout groups such as CVC, Cinven, Permira and EQT valuing Constantia at about 2 billion euros, they added. JP Morgan has been retained as an adviser to manage the sale of the maker of aluminium foil, paper and plastic-film packaging and labels for the food,...

  • OEP, which is 50 percent owned by JP Morgan, has received several expressions of interest from rival buyout groups such as CVC and EQT valuing Constantia at about 2 billion euros, they added. JP Morgan has been retained as an adviser to manage the sale of the maker of aluminium foil, paper and plastic-film packaging and labels for the food, pharmaceutical and...

  • Robert Hanson's holding company last year acquired Venezuela's best-selling newspaper, Ultimas Noticias, despite its worsening financial results and stringent currency controls that have frequently left foreign companies unable to repatriate profits. Ultimas Noticias has named two ruling Socialist Party members to key posts, including former...