Canada's Paper Excellence to Buy Resolute Forest Products in $2.7 Bln Deal
Canada's Paper Excellence, through its U.S. unit Domtar, has inked a nearly $2.7 billion deal to acquire Resolute Forest Products Inc. The deal is the latest move from the British Columbia-based Paper Excellence to expand its footprint across North America, having completed the buyout of U.S. rival Domtar in 2021. The deal is on track to close in either next year's first or second quarters. It will be carried out by way of a merger of Resolute with Domtar and would retain Resolute's production locations and jobs. Montreal-based Resolute, which makes market pulp, tissue, wood products, and paper, was formed by the merger of North American forestry groups Bowater and Abitibi 15 years ago.
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