The Paper Excellence Group, through its wholly owned subsidiary Domtar Corporation (Domtar) today (7-6-22) announced it had entered into an agreement with Resolute Forest Products Inc., (Resolute) under which Domtar will acquire all of the outstanding common shares of Resolute Stock.
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 Resolute management team will remain in place at the company’s headquarters. Furthermore, the Group plans to retain Resolute’s production locations and levels of jobs.
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PAPER EXCELLENCE GROUP ENTERS INTO DEFINITIVE AGREEMENT TO ACQUIRE RESOLUTE FOR $20.50 PER SHARE AND ONE CONTINGENT VALUE RIGHT TIED TO POTENTIAL DUTY DEPOSIT REFUNDS OF UP TO $500 MILLION