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Packaging companies Rock-Tenn, MeadWestvaco to merge

(Reuters) - Packaging companies Rock-Tenn Co and MeadWestvaco Corp said they would combine to form a company worth $16 billion, with MeadWestvaco shareholders owning a majority stake.

In the new company, which will be named after the deal closes, MEADWESTVACO (MWV.NY)shareholders will own a 50.1 percent stake, while Rock-Tenn shareholders will own the rest.

(Reporting by Sagarika Jaisinghani; Editing by Saumyadeb Chakrabarty)