AbitibiBowater, Inc. (fka ABWTQ)

[emailjanum]

Merger at any cost...Where is the DOJ now?

On January 29th 2007, Abitibi Consolidated and Bowater announced a stock merger of the two companies, in order to counter the decreasing demand of newsprint and to reduce annual costs by about $250 million1. On October 24th 2007, to get approval for merger from the United States Department of Justice, they agreed to divest “Crown Jewel”, one of the largest and most profitable mills in the US (located in Snowflakes, Arizona). The merger was completed at the end of October 2007.