ABITIBIBOWATER INC (ABH) Stock Soars on Merger Completion
AbitibiBowater Inc. (NYSE: ABH, TSX: ABH) announces that it has completed its previously publicized merger of equals of Abitibi-Consolidated Inc. and Bowater Incorporated. With pro forma revenues of approximately US$8 billion in 2006, AbitibiBowater is the third largest publicly traded paper and forest products company in North America and the eighth largest in the world.
Commencing today, the common stock of AbitibiBowater will trade on the New York Stock Exchange and Toronto Stock Exchange under the ticker symbol "ABH". AbitibiBowater is a U.S. reporting company, reporting in U.S. GAAP, with headquarters and executive offices located in Montreal, Quebec.
The Company expects to achieve annualized synergies of at least US$250 million within two years from improved efficiencies in such areas as production, selling, general and administrative (SG&A) costs, distribution and procurement.
Commencing today, the common stock of AbitibiBowater will trade on the New York Stock Exchange and Toronto Stock Exchange under the ticker symbol "ABH". AbitibiBowater is a U.S. reporting company, reporting in U.S. GAAP, with headquarters and executive offices located in Montreal, Quebec.
The Company expects to achieve annualized synergies of at least US$250 million within two years from improved efficiencies in such areas as production, selling, general and administrative (SG&A) costs, distribution and procurement.
Labels: ABH, ABITIBIBOWATER INC.
posted by Stock Administrator @ 2:15 PM
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