- Through its wholly-owned subsidiary Domtar Corporation, the Paper Excellence Group has agreed to acquire Resolute Forest Products Inc (NYSE:RFP).
- Fairfax Financial Holdings Limited, a significant stockholder of Resolute with a 40% stake, has supported the acquisition.
- The transaction brings complementary capabilities in lumber and pulp to Paper Excellence.
- Resolute will become a wholly-owned subsidiary of Domtar under the auspices of the Group and continue to operate on a business-as-usual basis under the Resolute name.
- The cash portion of the merger consideration represents a premium of approximately 64% to Resolute’s last closing price, representing an enterprise value of approximately $2.7 billion.
- Each Resolute share will receive $20.50 per share, together with a CVR entitling the holder to a share of future softwood lumber duty deposit refunds. Each share will be entitled to receive one CVR.
- Under the CVR, stockholders will receive refunds on approximately $500 million deposits on estimated softwood lumber duties paid by Resolute.
- Price Action: RFP shares are up 67% at $20.86 during the premarket session on the last check Wednesday.
- Photo by Capri23auto from Pixabay
FARO Technologies Appoints Peter Lau As President And Chief Executive Officer, Effective July 24th, 2023
Peter Lau to join effective July 24th, 2023
Yuval Wasserman to continue as Executive Chairman
LAKE MARY, Fla., June 29, 2023 /PRNewswire/ -- FARO® (NASDAQ:FARO), a global leader of 3D
