Canada's Paper Excellence, through its U.S. unit Domtar, agreed to buy Resolute Forest Products Inc on Wednesday in a deal valued at about $2.7 billion, sending the U.S.-listed shares of Resolute up by 65% before the bell.
Paper Excellence will pay $20.5 per Resolute share, representing a premium of about 64% to the company's closing price on Tuesday.
Source: Reuters
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