Paper Excellence said it will buy U.S rival Domtar Corp in an all-cash deal valued at about $3 billion, as the Canadian paper and packaging company looks enter the U.S. market. Fort Mill, South Carolina-based Domtar is among the world’s largest producers of market pulp used to make paper, tissue, towels, diapers, personal hygiene items, and one of North America’s top producers of freesheet paper, used for everything from business memos to copy paper. Paper Excellence offered to pay $55.50 per share to Domtar, representing a 37% premium to its stock’s close on May 3, the day before Bloomberg first reported deal talks.
