Experience
Representing Bowater Incorporated in $8 Billion Merger With Abitibi-Consolidated, Inc.
Representing Bowater Incorporated in connection with its pending merger of equals with Abitibi-Consolidated, Inc. The transaction will create a new company with an enterprise value in excess of $8 billion that will be the third largest publicly traded producer of paper and forestry products in North America, and the eighth largest worldwide. Key features of this transaction are the use of a cross-border top-hat structure combined with Canadian exchangeable preferred shares which allow for a tax-deferred transaction for US and Canadian shareholders of Bowater and US and Canadian shareholders of Abitibi Consolidated. The new company will be incorporated under the laws of Delaware, headquartered in Montreal, Canada and listed on the New York and Toronto Stock Exchanges.