Waiting period once again extended in merger of Graphic Packaging, Altivity

By Lisa Kerner

Charlotte, N.C., Feb. 1 - Graphic Packaging Corp. and Altivity Packaging, LLC voluntarily agreed for the third time to extend the Hart-Scott-Rodino waiting period in the proposed merger of Graphic Packaging with Altivity and its equity holder, Bluegrass Container Holdings, LLC.

The waiting period was extended to Feb. 11 from Feb. 1, according to a form 8-K filing with the Securities and Exchange Commission.

Previously, the waiting period was extended to Feb. 1 from Jan. 22 and to Jan. 22 from Jan. 11.

Graphic Packaging stockholders approved the company's proposed combination with Altivity on Jan. 17.

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.

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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