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NEW YORK (Reuters) - Boise Cascade Corp. (NYSE:BCC - News) on Monday said it is exiting the paper, building products and timberland businesses and selling the assets for about $3.2 billion in cash to focus on its office supply operation.

The businesses are being sold to private equity firm Madison Dearborn Partners LLC, which created a company called Boise Cascade LLC and will hire Boise Cascade Corp.'s management and its 55,000 employees.

Boise Cascade Corp., which has sought to get out of the less-reliable paper and building materials businesses, bought OfficeMax, the office products retailer, in December 2003-->


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