Domtar, Paper Excellence Merger Approved by Stockholders
Stockholders of Domtar Corporation (NYSE: UFS) (TSX: UFS) today approved a proposal to adopt a business combination with Paper Excellence B.V. (“Paper Excellence”) whereby Karta Halten B.V., an affiliate of Paper Excellence, will acquire all of the issued and outstanding shares of Domtar common stock for
The adoption of the Merger required the affirmative vote of stockholders holding a majority of the issued and outstanding shares of Domtar’s common stock entitled to vote on such matter.
More than 81 percent (
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 receiving clearance under Canada’s Competition Act and other customary closing conditions.
About Domtar
Domtar is a leading provider of a wide variety of fiber-based products including communication, specialty and packaging papers, market pulp and airlaid nonwovens. With approximately 6,400 employees serving more than 50 countries around the world, Domtar is driven by a commitment to turn sustainable wood fiber into useful products that people rely on every day. Domtar’s annual sales are approximately
Forward-Looking Statements
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