Sep 24, 2013 21:21 Packaging Corp. buying Boise Inc. for about $1.27 billion Packaging Corp. buying Boise Inc. for about $1.27 billion The Associated Press Sept. 24, 2013 Comments LAKE FOREST, Ill. — Packaging Corp. of America is buying Boise Inc. for about $1.27 billion, acquiring additional containerboard needed to support its growth. In Louisiana, Boise operates a linerboard and newsprint facility in DeRidder. Shareholders of Boise Inc., a maker of packaging and paper products, are being offered a 26 percent premium to their stock price on Friday. Boise rose $2.60, or 26 percent, to $12.56. Packaging Corp. rose $5.88, or almost 11 percent, to $60.43. If the deal is completed, Packaging Corp.’s containerboard capacity will rise to 3.7 million tons from 2.6 million tons. Its corrugated products volume will increase about 30 percent. The company will also broaden its geographic reach to the Pacific Northwest. Both companies’ boards unanimously approved the acquisition, which is expected to close in the fourth quarter. The transaction is anticipated to immediately add to earnings. A Packaging Corp. affiliate will start a tender offer to acquire Boise’s stock. The tender offer must be started within 10 days and remain open for at least 20 business days after launch.