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International Paper  has finalized $2.2 billion purchase of Weyerhaeuser’s pulp business.  Because the transaction is a purchase of assets, Interna-tional Paper expects to realize a tax benefit with an estimated net present value of approximately $300 million.
International Paper expects annual synergies of approximately $175 million by the end of 2018, which will require the need for one-time costs of approximately $85 million.
“This transaction positions International Paper as the premier global supplier of fluff pulp and enhances our ability to generate additional cash flow,” said International Paper chairman and CEO Mark Sutton. “I want to personally welcome the talented employees of Weyerhaeuser to the International Paper family as we look forward to serving our customers around the world.”