Domtar’s stockholders have approved its pending $3-billion merger with Paper Excellence.
Paper Excellence will acquire all of the issued and outstanding shares of Domtar common stock for $55.50 per share in cash.
More than 81 per cent of the issued and outstanding shares of Domtar’s common stock entitled to vote at the special meeting of stockholders were voted in favour of the merger. A non-binding compensation advisory proposal was also approved by a majority of the shares represented.
Additionally, Domtar announced that clearances have been obtained under the antitrust laws of Spain and the People’s Republic of China, following previous clearances obtained in the United States and Turkey, representing another step toward the closing of the announced merger.
The merger is expected to be completed before the end of 2021, subject to closing conditions.
Print this page