Brazilian paper merger complete.BRAZILIAN PAPER MERGER COMPLETE. Suzano Bahai Sul Papel e Celulose (SBSPC), Sao Paulo, Brazil, the new corporation that succeeds Bahia Sul Celulose S.A., announced that the period for stockholders of Companhia Suzano de Papel e Celulose (Suzano) to exercise their right to withdraw from that company expired. This right arose from the decision by the extraordinary general meeting of Suzano held to approve the downstream merger downstream merger A type of merger in which a parent firm is absorbed into one of its subsidiaries. of Suzano into Bahia Sul. The transaction in which Suzano was merged by SBSPC is now complete. On August 5, 2004, the shares issued by SBSPC began trading on the Sao Paulo stock exchange Sao Paulo Stock Exchange See: Bolsa de Valores de Sao Paulo (Bovespa) under the ticker symbols Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors "SUZB3" for the common shares, "SUZB5" for the class A preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. , and "SUZB6" for the class B preferred shares. Shares experienced a reverse split, with 18.2765 shares becoming one new share. |
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