- The stock price of Domtar Corp (NYSE: UFS) increased 15.18% pre-market. This is why it happened.
The stock price of Domtar Corp (NYSE: UFS) increased 15.18% pre-market. Investors are responding positively to a Bloomberg report about Canadian paper and packaging company Paper Excellence exploring a deal to buy U.S.-based rival company Domtar.
The two companies are working with advisers on a potential deal, which would take Domtar private. This deal could value Domtar’s shares in the mid $50s. Bloomberg’s sources asked not to be identified since the details are not public.
Domtar’s history dates back to 1848 when Henry Potter Burt founded Burt, Boulton Holdings Ltd. in England. The company was later renamed Dominion Tar and Chemical Company, Limited in 1903 and then Domtar in 1965.
Last year, Domtar hit $3.7 billion in revenue and the company was added to the S&P SmallCap 600 index last month.
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