Georgia-Pacific gets request for Buckeye data
Georgia-Pacific gets request for more information, documents on Buckeye Technologies buyout
MEMPHIS, Tenn. (AP) -- Georgia-Pacific LLC has received a request from the Federal Trade Commission and the antitrust division of the Justice Department for more information and documents related to its acquisition of Buckeye Technologies Inc.
Buckeye, which is based in Memphis, Tenn., runs manufacturing plants in the U.S. and Germany. It makes and markets specialty fibers and nonwoven materials made from wood and cotton. Those products are used in personal hygiene products, disposable diapers, engine air and oil filters, napkins, cleaning supplies, baby wipes and a series of other goods.
In April Georgia-Pacific announced that it reached a deal to buy Buckeye for about $1.46 billion. Georgia-Pacific is a privately held Atlanta-based paper, packaging and building products company.
The FTC and antitrust unit asked for more information and documentation on Buckeye's nonwovens business.
Georgia-Pacific and Buckeye said that they will continue to work with the FTC and antitrust division.
Buckeye's stock fell 6 cents to $37.19 in midday trading.
