Brazil’s Suzano Papel e Celulose SA (SUZB3.SA) will pay Fibria Celulose SA’s (FIBR3.SA) shareholders 52.50 reais ($15.92) per share in a merger that will create the world’s largest pulp maker, the companies said in statements on Friday.
Additionally, Fibria’s shareholders will receive 0.4611 shares of Suzano for every share they hold in Fibria.
https://www.reuters.com/article/us-fibria-m-a-suzano-papel/brazils-suzano-will-pay-52-50-reais-per-share-of-fibria-in-merger-statement-idUSKCN1GS1JH
Related Posts
Verso Corporation announced that B. Christopher DiSantis has stepped down as President and Chief Executive Officer and member of the Verso Corporation board of directors effective as of April 5, 2019. Leslie Lederer, former chairman, interim president and CEO of Catalyst Paper Company, has been named as interim Chief Executive Officer as of April 5 in order to ensure a smooth transition until such time as a permanent CEO has been identified and retained. Verso's board of directors intends to undertake a robust succession process to find a successor for DiSantis, including a search process that will include internal and external candidates. "On behalf of the entire board, I want to thank Mr. DiSantis for his leadership and contributions to Verso's success and wish him the best in his future endeavors," said Co-Chairman of the Board Alan Carr. Co-Chairman Gene Davis added, "We are thrilled to have Les join us and, given his industry expertise and proven leadership qualities, we look forward to him leading our talented and experienced team." Click Read More below for additional detail.
Strong demand for Norske Skog's products in all regions resulted in high capacity utilisation and net profit in the third quarter of NOK 190 million. This demonstrate the long-term trend of good performance. So far this year, the net profit is NOK 430 million.
Gross operating earnings (EBITDA) in the third quarter 2016 was NOK 251 million, which was a decrease from NOK 335 million in the second quarter, mainly due to somewhat higher energy and recovered paper cost and weaken pound. Net profit in the third quarter was NOK 190 million compared with a negative NOK 874 million in the third quarter 2015. click Read More below for additional detail
Operating Earnings were $407 million ($0.97 per share) in the third quarter of 2015, compared with $409 million ($0.97 per share) in the second quarter of 2015 and $409 million ($0.95 per share) in the third quarter of 2014. Net earnings in all periods include the impact of special items, if any, non-operating pension expense and discontinued operations.
Quarterly net sales were $5.7 billion in the third quarter of 2015 compared with $5.7 billion in the second quarter of 2015 and $6.1 billion in the third quarter of 2014. Revenues continue to be negatively impacted by foreign exchange translation.
Business segment operating profits before special items in the third quarter of 2015 were $773 million, compared with $663 million in the second quarter of 2015 and $840 million in the third quarter of 2014.