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NEWS SUMMARY: Georgia-Pacific to buy Buckeye Tech

The Associated Press

THE DEAL: Georgia-Pacific is acquiring Buckeye Technologies Inc. for about $1.46 billion. The privately held Atlanta-based paper, packaging and building products company will buy all of Buckeye's common stock for $37.50 per share.

THE COMPANY: Memphis, Tenn.-based Buckeye makes and markets specialty fibers and nonwoven materials made from wood and cotton. Its products are used in personal hygiene items, disposable diapers, engine air and oil filters, napkins, cleaning supplies, baby wipes and other goods.

THE PROCESS: Georgia-Pacific intends to use a tender offer to buy at least 75 percent of Buckeye's shares.