International Paper Agrees to Merge Xpedx Distribution Business with Unisource Worldwide; IP Shareholders to Own 51 Percent of New Company; IP to Receive $400M in Cash

International Paper (NYSE: IP ) today announced that distribution solutions businesses xpedx and Unisource Worldwide, Inc. will merge under the terms of a definitive agreement that will result in the creation of a new publicly traded company. The agreements providing for the combination of the two businesses were signed