Monday 23. June 2014
International Paper Company Announces Definitive Distribution Ratio for the Spinoff of its xpedx Distribution Business
International Paper (NYSE: IP) today announced the definitive distribution ratio for the spinoff of its distribution solutions business, xpedx. Subject to the satisfaction of certain conditions, International Paper stockholders will receive on the distribution date, July 1, 2014, 0.0188 shares of Veritiv Corporation (“Veritiv”) common stock (NYSE: VRTV) for each share of International Paper common stock they owned as of 5:00 p.m., New York City time, on June 20, 2014, the record date set by International Paper’s board of directors.