Buckeye Technologies has announced that at a special stockholders’ meeting held on 15 August, Buckeye stockholders approved the agreement and plan of merger, by and among Georgia-Pacific, GP Cellulose Group LLC and Buckeye.

Merger agreement

More than 84% of the total outstanding shares of Buckeye common stock eligible to vote as of the 8 July 2013 record date were voted in favour of the adoption of the merger agreement. Buckeye stockholders also approved the non-binding advisory proposal regarding merger-related compensation with a vote of more than 83% of the total outstanding shares of Buckeye common stock.

Upon the closing of the transaction, Buckeye will become an indirect, wholly owned subsidiary of Georgia-Pacific, and Buckeye stockholders (other than Buckeye stockholders who have properly exercised rights of appraisal) will be entitled to receive $37.50 in cash, without interest and subject to any withholding of taxes required by applicable law, for each share of Buckeye common stock owned at the time of the transaction’s closing.

Buckeye Technologies

The leading supplier of unique fibre solutions to a broad array of markets and customers worldwide, the company is headquartered in Memphis, TN.

Buckeye Technologies currently operates manufacturing facilities in the United States and Germany.

www.bkitech.com