Domtar/Weyerhaeuser deal gets first green light
January 9, 2007 By Pulp & Paper Canada
Antitrust authorities have approved the Domtar/Weyerhaeuser deal. The transaction, which will see the merger of Dom…
Antitrust authorities have approved the Domtar/Weyerhaeuser deal. The transaction, which will see the merger of Domtar with Weyerhaeuser’s fine paper and related businesses, remains subject to other closing conditions, including approvals from Investment Canada and Domtar shareholders. However, the deal is expected to wrap up during the first quarter of 2007.
“We are very pleased with these decisions from the Canadian and U.S. authorities,” said Raymond Royer, Domtar’s president and CEO. “This was an essential condition for the transaction. This major step now enables us to seek approval from our shareholders and start developing a plan to better meet the needs of our customers across North America,” he added.
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