Paper Containers & Packaging | Nottingham, UK | Corporate Acquisition
WestRock (NYSE: WRK) has agreed to acquire all outstanding shares of Multi Packaging Solutions International (NYSE: MPSX) for $18 apiece in cash and the assumption of an estimated $873 million in net debt, representing a total enterprise value of $2.28 billion. That figure represents a 9.6x trailing 12-month adjusted EBITDA multiple as of September 30. WestRock plans to incorporate MPS's print, graphics and design capabilities into its own packaging offerings. MPS stock shot up nearly 24% to close Tuesday trading at $17.79.