Veritiv To Be Acquired By CD&R; Shareholders To Receive $170/Shr

(RTTNews) - Veritiv Corp. (VRTV) has entered into a definitive agreement to be acquired by an affiliate of Clayton, Dubilier & Rice, LLC. Each share of Veritiv common stock issued and outstanding immediately prior to the closing of the deal will be entitled to receive $170 per share in cash. Upon the completion, Veritiv will become a privately held company and shares of Veritiv common stock will no longer be listed on any public markets.

Veritiv's Board has unanimously voted to approve the transaction. Veritiv Board also approved quarterly dividend of $0.63 per share.

"As Veritiv's largest shareholder, we are supportive of this transaction," said Greg Ciongoli, Partner, The Baupost Group.