Packaging Corporation Of America To Buy Assets For $265M
Zacks Investment Research | Aug 23, 2017 04:01AM ET
Packaging Corporation of America (NYSE:PKG) recently entered into a definitive agreement to acquire mostly all assets of Sacramento Container Corporation, and 100% of the membership interests of Northern Sheets, LLC and Central California Sheets, LLC for $265 million.
The cash-free, debt-free transaction is structured as a purchase of assets, resulting in a full step-up of the assets to fair market value. Per the deal, Packaging Corporation of America will buy full line corrugated products and sheet feeder operations in McClellan and Kingsburg, CA.
The buyout will likely boost the company’s operations both geographically and strategically. Also, the customer-focused employees and strong management teams of Sacramento Container, Northern Sheets and Central California Sheets will sync perfectly with Packaging Corporation of America.
Packaging Corporation of America Price
industry with respect to price performance. The stock gained 43.1%, while the industry rose 7.1%.
Packaging Corporation currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks worth considering in the same sector are AGCO Corp. (NYSE:AGCO) , Terex Corp. (NYSE:TEX) and Caterpillar Inc. (NYSE:CAT) . All the three stocks flaunt a Zacks Rank #1 (Strong Buy). You can see .
AGCO has an average positive earnings surprise of 39.70% for the trailing four quarters. Terex generated an outstanding average positive earnings surprise of 122.78% over the past four quarters, while Caterpillar has an average positive earnings surprise of 41.43% for the last four quarters.
4 Surprising Tech Stocks to Keep an Eye On
Tech stocks have been a major force behind the market’s record highs, but picking the best ones to buy can be tough. There’s a simple way to invest in the success of the entire sector. Zacks has just released a Special Report revealing one thing tech companies literally cannot function without.
More importantly, it reveals 4 top stocks set to skyrocket on increasing demand for these devices. I encourage you to get the report now – before the next wave of innovations really takes off.
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.