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Elm Ridge buys more KapStone Paper and Packaging stock
By Angela McDaniels
Tacoma, Wash., Nov. 17 - KapStone Paper and Packaging Corp. investors led by Elm Ridge Capital Management, LLC purchased 693,997 shares of the company's common stock between Oct. 14 and Nov. 11.
The shares were priced from $4.50 to $4.95 each, according to a schedule 13D/A filed with the Securities and Exchange Commission.
The investors beneficially own 7,480,296 shares, giving them a 22.6% interest in the company.
KapStone is a Northbrook Ill.-based producer of kraft paper and converter of inflatable dunnage bags.
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