RFP - Resolute Forest Products bought by Domtar in $2.7B deal
Resolute Forest Products ( NYSE: RFP ) +66.7% pre-market on Wednesday after Paper Excellence Group's Domtar subsidiary agreed to acquire the company for $20.50/share, in a deal with an enterprise value of ~$2.7B.
According to the deal terms, each Resolute ( RFP ) share would be convertible into $20.50/share, with a contingent value right to a share of future softwood lumber duty deposit refunds of as much as $500M.
The cash portion of the merger consideration represents a ~64% premium to Resolute's ( RFP ) NYSE closing share price on July 5.
In its most recent quarter, Resolute Forest Products ( RFP ) reported adjusted earnings of $2.26/share on revenues of $945M .
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Resolute Forest Products bought by Domtar in $2.7B deal