Mega-merger for Abitibi-Consolidated and Bowater paper companies
Pending shareholder votes at both companies on July 26, one of Canada's largest paper companies, Abitibi-Consolidated Inc. will be merged with U.S.-controlled Bowater Incorporated. The proposed merger can be voted on as the result of an interim order of the Quebec Superior Court.
Abitibi-Consolidated shareholders will vote in Montreal; Bowater stockholders in Atlanta Georgia. (Bowater Canada Inc., a publicly traded subsidiary of the US firm.
The combined company, would be called AbitibiBowater Inc., will be the 3rd largest publicly traded paper and forest products company in North America and the 8th largest in the world. AbitibiBowater would own or operate 32 pulp and paper facilities and 35 wood product facilities located mainly in Eastern Canada and the Southeastern U.S. and would also be among the world's largest recyclers of newspapers and magazines.
Abitibi-Consolidated shareholders will vote in Montreal; Bowater stockholders in Atlanta Georgia. (Bowater Canada Inc., a publicly traded subsidiary of the US firm.
The combined company, would be called AbitibiBowater Inc., will be the 3rd largest publicly traded paper and forest products company in North America and the 8th largest in the world. AbitibiBowater would own or operate 32 pulp and paper facilities and 35 wood product facilities located mainly in Eastern Canada and the Southeastern U.S. and would also be among the world's largest recyclers of newspapers and magazines.
Labels: paper
posted by D. B. Scott at
12:08 am
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