Norske purchase of Pacifica set to close Aug. 27
Papermaker Norske Skog Canada (Toronto:NSa.TO - news) said on Tuesday that Canadian regulators have given final approval to its purchase of Pacifica Papers Inc. (Toronto:PPP.TO - news) and it expects the deal to close on Aug. 27 as planned.
VANCOUVER, British Columbia, Aug 14 (Reuters) - Papermaker Norske Skog Canada (Toronto:NSa.TO - news) said on Tuesday that Canadian regulators have given final approval to its purchase of Pacifica Papers Inc. (Toronto:PPP.TO - news) and it expects the deal to close on Aug. 27 as planned.
Under the deal, worth C$960 million ($624 million) with assumed debt, Pacifica's shareholders must decide by Aug 24 whether to take 2.1 Norske Canada shares for each Pacifica share or C$7.50 in cash and one Norske Canada share.
($1 equals $1.54 Canadian)