International Paper Co. (NYSE:IP), the world’s largest maker of office paper, is in talks about combining its xpedx unit with Unisource Worldwide Inc. to form a new distributor of printing and packaging.

A deal may be in the form of a so-called Reverse Morris Trust in which International Paper would contribute xpedx’s assets, the Memphis, Tenn.-based company said today in a statement. It “would be spun off to International Paper shareholders and immediately thereafter merged with Unisource in a transaction intended to be tax-free to International Paper and its shareholders,” according to the statement.

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