Swift Consolidation Sweeps Paper Industry

Abitibi-Consolidated said it will offer C$42 in cash and stock for each Donohue share. Abitibi is the world’s largest newsprint maker, while Donohue is North America’s third-largest producer.

Abitibi President and CEO John Weaver called his deal “a rare and fortuitous opportunity brought on by Quebecor’s decision to divest its interest in Donohue and we were ready to act.”