Most of the major papermakers have sent letters, seen by PrintWeek, out to paper merchants over the past few weeks to confirm that prices are about to go up by between 5% and – more commonly – 10%. Fedrigoni UK has made the first move, pushing prices of the majority of its product portfolio up by between 5% and 8% on all deliveries from last Monday (21 November). Smurfit Kappa is increasing prices of its white lined chipboard (WLC) qualities from its Baden and Hoya mills by £60 per tonne for deliveries from today (1 December). On 15 December, The Navigator Company will increase prices for its uncoated woodfree products. It is expecting to add a minimum 6% increase per grade. The rest of the price increases will happen between 1 and 3 January 2017. click Read More below for additional detail
Rite Aid Corporation (NYSE: RAD) today announced that it has mutually agreed with Albertsons Companies Inc. (“Albertsons”) to terminate their previously announced merger agreement.
“While we believed in the merits of the combination with Albertsons, we have heard the views expressed by our stockholders and are committed to moving forward and executing our strategic plan as a standalone company,” said Rite Aid Chairman and Chief Executive Officer John Standley. “We remain focused on leveraging our network of conveniently located retail pharmacies, our EnvisionRxOptions PBM and our trusted brand of health and wellness offerings. We will continue building momentum for key areas of our business like our innovative Wellness store format, highly successful customer loyalty program and expanded pharmacy service offerings, as we also enhance our omni-channel and own brand offerings to strengthen our competitive position and create long-term value for stockholders.”
As a result, the special meeting of Rite Aid’s stockholders, which was to be held on August 9, 2018, will not take place.
Under the terms of the merger agreement, neither Rite Aid nor Albertsons will be responsible for any payments to the other party as a result of the termination of the merger agreement.