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Resolute Forest Products stockholders vote in favour of Paper Excellence offer

Resolute Forest Products shareholders have given their approval to the $2.7 billion acquisition offer from Paper Excellence Group.

The adoption of the merger agreement required the affirmative vote of stockholders holding a majority of the issued and outstanding shares of Resolute’s common stock entitled to vote on such matter.

A total of 81.5 per cent of the issued and outstanding shares of Resolute’s common stock entitled to vote at the special meeting of stockholders was voted in favour of the merger agreement. Of the total shares voted, 99.8 per cent were voted in favour of the merger agreement.

In addition, the non-binding compensation advisory proposal was also approved by a majority of the shares represented at the meeting.

Resolute currently expects to complete the merger in the first half of 2023, subject to receipt of regulatory approvals and the satisfaction or waiver of the other conditions to the closing of the merger.

Learn more: www.newswire.ca/news-releases/resolute-stockholders-vote-in-favor-of-each-proposal-at-special-meeting-817921019.html .