Consolidated Papers 'F2' Affd Following Acquis Announcement.Business Editors NEW YORK--(BUSINESS WIRE)--Feb. 23, 2000 Fitch IBCA IBCA International Braille Chess Association IBCA Institute of Burial and Cremation Administration IBCA Integrated Business Communications Alliance IBCA International Barbeque Cookers Association IBCA Department of Interior Board of Contract Appeals affirms Consolidated Papers, Inc.'s commercial paper rating at `F2', following the announcement that Stora Enso
This transaction will create the world's largest producer of paper and paperboard, with total capacity of approximately 15 million metric tonnes and pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma annual sales of $13.2 billion. As currently structured, Stora Enso will acquire all of the shares of Consolidated Papers Inc. in a transaction valued at $44.00 per Consolidated share. Consolidated shareholders will have the election to convert their shares into either cash or Stora Enso ADRs, or a combination thereof. Elections will be pro rated in order to maintain a 50/50 aggregate balance between cash and stock. A significant source of the cash component of the acquisition will come from Stora Enso's previously announced sale of its power plants outside Finland and Sweden for EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 1.85 billion ($1.83 billion). The transaction, which is expected to close by August 2000, will generate pre-tax operating synergies of $110 million, which will be fully realized by 2002. Stora Enso has historically maintained a conservative credit profile, with bondholder protection measures similar to Consolidated's, however, Stora Enso's broader product line provides more earnings stability. Taking into account the expected synergies, along with the expected divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). of the power assets, pro forma 1999 earnings before interest, taxes, depreciation and amortization Earnings before interest, taxes, depreciation and amortization (EBITDA) is a non-GAAP metric that can be used to evaluate a company's profitability.
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