Waiting period extended in merger of Graphic Packaging, Altivity Packaging

By Lisa Kerner

Charlotte, N.C., Jan. 14 - Graphic Packaging Corp. and Altivity Packaging, LLC agreed to extend the Hart-Scott-Rodino waiting period to Jan. 22 from Jan. 11 at the request of the U.S. Department of Justice.

The waiting period is in connection with the proposed merger of Graphic Packaging with Altivity Packaging and its equity holder Bluegrass Container Holdings, LLC, according to a form 8-K filing with the Securities and Exchange Commission.

It was previously reported that under the companies' definitive agreement, each existing share of Graphic Packaging common stock will be converted into a share of common stock in the new company. Affiliates of TPG Capital, the majority owner of Altivity, along with the management owners of the company, will contribute all of their equity interests in Altivity's holding company to the new company in exchange for shares of the new company's common stock.

Graphic Packaging shareholders are set to vote on the acquisition at a special meeting on Jan. 17.

Following the merger, the new company will be known as Graphic Packaging Holding Co. and will trade under the New York Stock Exchange ticker symbol "GPK."

Graphic Packaging is a paperboard packaging solutions provider located in Marietta, Ga.

Chicago-based Altivity is a privately held producer of folding cartons.

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