The Merger
In May 1956, the merger between the 2 companies came together. With Union Bag company having sales of $123,031,000 and owning over a million acres (4,000 km²) of timber, it was surprising that the Camps negotiated as equals with the Calders, when the Camps had a fraction of the sales and property with $27,675,225 in sales and 240,000 acres (970 km²) of timber. After months of negotiations, and a final offering to the Camp shareholders of 1.75 shares for every share owned, a deal was struck. On 13 July 1956 the merger was completed and the Union Bag-Camp Paper company was born.
Read more about this topic: Union Camp Corporation, Company Creation