Deals
International Paper's Xpedx, Unisource to Explore Merger
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International Paper Co., the world’s largest maker of office paper, is in talks about combining its xpedx unit with Bain Capital’s Unisource Worldwide Inc. to form the biggest distributor of office and copier paper.
A deal may be in the form of a so-called Reverse Morris Trust in which International Paper would contribute xpedx’s assets, the Memphis, Tennessee-based company said today in a statement. It “would be spun off to International Paper shareholders and immediately thereafter merged with Unisource in a transaction intended to be tax-free to International Paper and its shareholders,” according to the statement.