Updated: Paper Excellence, Domtar acquire Resolute Forest Products in $2.7B deal

The Canadian Competition Bureau has approved the acquisition of Resolute Forest Products by Domtar, a wholly owned subsidiary of Paper Excellence Group, in a deal valued at $2.7 billion.

Under the agreement, Resolute will become a wholly owned subsidiary of Domtar, which will acquire all outstanding shares common stock, and both companies will continue to operate independently under their own names.

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