Regulatory filings give peek into MeadWestvaco, Rock-Tenn merger negotiations - Charleston Post Courier
The transaction marks the end of an era for MeadWestvaco, which has been an influential player in the Charleston economy since the 1930s. All the while, it has managed to remain an independent company run by a member of the founding Luke family —... The combination with Norcross, Ga. -based Rock-Tenn was announced in January, but the process began nearly a year earlier, according to a summary of the back-and-forth negotiations both companies filed with the Securities and Exchange Commission. The meeting was called by Rock-Tenn chief executive Steven Voorhees. He wanted to sit down with MeadWestvaco CEO John A. Luke Jr. “to become acquainted and provide an opportunity for them to discuss the existing business relationships between their respective companies. MeadWestvaco quickly assembled a team of Wall Street bankers and financial advisers while senior management began studying the idea of teaming up with Rock-Tenn. product offerings, but also might increase the capability of each company to realize its current strategic vision,” according to the filing. In the midst of those one-on-one meetings, in May 2014, Voorhees called Luke to propose a potential merger. Luke responded that the concept was one he also believed both companies should explore,” the filing states. Source: www.postandcourier.com
