Domtar confirms merger talks with Paper Excellence

The Domtar Pulp Mill stands in Dryden, Ont., on Nov. 24, 2019.

David Jackson/The Globe and Mail

U.S. paper and packaging company Domtar Corp confirmed on Tuesday it has been in merger talks with Canadian rival Paper Excellence, adding there was no guarantee that the negotiations will lead to a deal.

Bloomberg reported on Monday, citing people familiar with the matter, Paper Excellence was exploring a take-private deal for Domtar that could value the U.S. company in the mid-$50 per share range.

Domtar did not specify at what stage its talks with Paper Excellence were or whether there was any offer.

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