KapStone Paper and Packaging (KS) announced Monday afternoon that it acquired the stock of Longview Fibre Paper and Packaging, Inc. from Brookfield Capital Partners II for $1.025 billion in cash.
KapStone surged to the upside after the acquisition announcement and ended the day with a gain of 5.32 at $35.04 on the highest volume of the year. The stock broke out past resistance and set a new high for the year.
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