Market Overview

Rock-Tenn Up 4% On Sector Bid

Rock-Tenn Co. (NYSE: RKT) shares are seeing a nice bid this afternoon, after International Paper (NYSE: IP) made an unsolicited offer this morning for Temple-Inland (NYSE: TIN), revaluing the sector.

International Paper's bid for Temple-Inland was worth $3.4 billion, or nearly 40% higher than where shares of Temple-Inland were trading yesterday.

At last check, shares of Rock-Tenn were up $2.58 to $71.16, a gain of 3.7% on 1.7 million shares.

Rock-Tenn Company manufactures and sells packaging products, recycled paperboard, containerboard, bleached paperboard, and merchandising displays worldwide.

Posted-In: News M&A Movers

 

Most Popular

Related Articles (IP + RKT)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free