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Dart buying Solo Cup for $1 billion


MASON, MICH. (March 21, 10 p.m. ET) — Solo Cup Co. of Lake Forest, Ill., announced today that it is being purchased by Dart Container Corp. Solo and Mason, Mich.-based Dart said they have an agreement for Solo to be sold in a $1-billion transaction. The deal is subject to regulatory approval and expected to close in the third quarter. Dart is the country's largest maker of foam cups, and the companies are two of North America's largest thermoformers.

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