STAMFORD, CT—Cenveo Inc., located here, has completed its acquisition of Richmond, VA-based Cadmus Communictions. Cenveo paid $430 million, or $24.75 per share.The Valassis acquisition of ADVO Inc. for $1.2 billion, or $33.02 per share, has also been completed. Domtar Inc., meanwhile, completed its deal for Weyerhaeuser Co.’s fine paper business. The combination created Domtar Corp.,…
CHICAGO—RR Donnelley has officially completed its deal for Banta Corp. of Menasha, WI, for $1.3 billion. The deal was originally announced on October 31, 2006.Meanwhile, the merger of Weyerhaeuser’s fine paper and related businesses with Domtar took a step closer to completion. Canada’s Competition Bureau and the U.S. Department of Justice (under Hart-Scott-Rodino review) have…
BY ALL indications, the paper manufacturing sector is doing everything within its means to ensure that capacity walks hand-in-hand with demand. Whether these measures will have an impact on what is largely perceived as a weak North American paper market through the front half of 2007 remains to be seen. Some big names were on the move in the back half of 2006 on the coated freesheet side. International Paper sold its coated and super- calendered (SC) papers business to CMP Holdings, a subsidiary of Verso Paper Holdings, for roughly $1.4 billion. But perhaps the biggest news came from Weyerhaeuser, which combined its fine
FEDERAL WAY, WA—Two major players in the fine paper sector have decided to combine their businesses in a multi-billion dollar megadeal. Weyerhaeuser Co. and Domtar have come to terms on an agreement that sees the two companies marry their respective fine paper busin-esses in a $3.3 billion transaction. If approved, the company would become the largest fine paper manufacturer in North America. As part of the deal, Weyerhaeuser shareholders will receive 55 percent ownership in the new company, with Domtar shareholders getting 45 percent. Weyerhaeuser will also receive a $1.35 billion cash payment and will nominate a majority of the 13-member board, chaired by Weyerhaeuser adviser
FEDERAL WAY, WA—Two major players in the fine paper sector have decided to combine their businesses in a multi-billion dollar megadeal. Weyerhaeuser Co. and Domtar Inc. have come to terms on an agreement that sees the two companies marry their respective fine paper businesses in a $3.3 billion transaction. If approved, the company would become the largest uncoated freesheet paper manufacturer in North America. As part of the deal, Weyerhaeuser shareholders will receive 55 percent ownership in the new company, with Domtar shareholders getting 45 percent. Weyerhaeuser will also receive a $1.35 billion cash payment and will nominate a majority of the 13-member board, chaired by
FEDERAL WAY, WA—Aug. 23, 2006—Weyerhaeuser Company (NYSE: WY) today announced that it has reached a definitive agreement to combine its Fine Paper business and related assets with Domtar Inc. (TSE/NYSE: DTC). The transaction gives Weyerhaeuser shareholders 55 percent ownership in the new company and includes a $1.35 billion cash payment to Weyerhaeuser. The cash payment, plus the stock valued at the closing price of Domtar stock on Aug. 22, 2006, results in a transaction value of $3.3 billion before considering resulting synergies.The transaction, which has been approved by the boards of directors of both companies, is expected to close in the first quarter of
