MeadWestvaco Agrees to Sell Papers Assets for $2.3 Billion
"Separation from MeadWestvaco gives the Papers business a tremendous opportunity to build on our leading position with customers in the marketplace," said Mr. Vogel. "In Cerberus, we have a strong financial partner committed to the business. We have an outstanding group of employees, who together have a great opportunity to make us successful."
Goldman, Sachs & Co. and UBS Investment Bank are acting as financial advisors to MeadWestvaco. Greenhill & Co. LLC provided the board of directors of MeadWestvaco with a fairness opinion. MeadWestvaco was represented by the law firm of Wachtell, Lipton, Rosen & Katz.