US packaging companies RockTenn and MeadWestvaco (MWV) are to merge to create a global powerhouse of consumer and corrugated packaging. The combined company -"NewCo" - is forecast to have combined net sales of $15.7bn (£10.3bn) and adjusted EBITDA of $2.9bn (£1.9bn). MWV shareholders will have a 50.1% stake in the new company. Analysts say the merger will create the second-largest US packaging company behind International Paper, which has a market capitalisation of nearly $23bn(£15bn).
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