U.S. Markets close in 1 hr 10 mins

W/S Packaging Holdings, Inc. -- Moody's places W/S Packaging's ratings under review for downgrade

Moody's Investors Service ("Moody's") placed the B3 corporate family rating, B3-PD probability of default rating, and all instrument ratings of W/S Packaging Holdings, Inc. ('W/S") under review for downgrade. The review follows the announcement that Platinum Equity LLC, through a merger with its portfolio company W/S Packaging Holdings, Inc., agreed to acquire Multi-Color Corporation. Under the terms of the agreement, which has been unanimously approved by Multi-Color Corporation's Board of Directors, Multi-Color Corporation shareholders will receive $50.00 in cash for each share of common stock they own, in a transaction valued at $2.5 billion including the assumption of $1.5 billion of debt.