AUBURN — From preserving each city’s cultural flavor to fears of skyrocketing property taxes, foes of a Twin Cities charter effort say they are ready to make their case. “We still love everybody on the other side of the bridge, but we love being on our own side of the bridge,” City Councilor Leroy Walker […]
merger
Posted inAdvertiser Democrat, Oxford Hills
Norway not interested in merging with Paris Fire Department
PARIS — Norway officials say they are not interested at this time in merging fire departments with the town of Paris. The ongoing issue of firefighter shortages, especially at the Paris Fire Department, prompted selectmen in that town to bring together firefighters and town officials from Paris, Norway and Oxford on Wednesday night to discuss a […]
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Posted inRiver Valley
Canadian paper company to purchase NewPage in Rumford
RUMFORD — A Canadian paper company is buying the Rumford Paper Company and a second NewPage mill for $74 million in cash. Catalyst Paper Holdings, based in British Columbia, announced the transaction. In addition to Rumford, Catalyst also will buy a NewPage paper mill in Biron, Wis. NewPage employs about 800 people at its Rumford […]
Posted inFranklin, River Valley, The Franklin Journal
Verso Paper clears hurdle toward completing purchase of NewPage
PORTLAND — Verso Paper’s chief executive said the company is closer to its planned acquisition of NewPage, a proposed merger that would create the largest single paper company in Maine. The $1.4 billion purchase would bring together the companies that employ about one-third, or 2,300, of Maine’s paper mill workers at Verso’s mills in Bucksport […]
Posted inBusiness, Maine, sj-web
University of Maine may merge business, law school
PORTLAND — The University of Maine is working on a proposed merger of its law and graduate business programs. The move would create the “Alfond Professional and Graduate Center” in Portland. The center would house the university system’s law school and two graduate business programs at the University of Southern Maine and the University of […]
Posted inRiver Valley
Verso names leadership team to helm company after it acquires NewPage
RUMFORD — Verso Paper Corp. announced late Thursday afternoon that its senior management team will continue to lead Verso after completing its pending acquisition of NewPage Holdings. In January, Tennessee-based Verso and Ohio-based NewPage entered into a definitive agreement for Verso to acquire NewPage for $1.4 billion. That merger is currently held up by the […]
Posted inBusiness, Nation / World, sj-web
Comcast to buy Time Warner Cable for $45 billion
The all-stock deal was approved by the boards of both companies. It is expected to close by the end of the year, pending shareholder and regulatory approvals. The price amounts to $158.82 per share for Time Warner Cable’s roughly 285 million outstanding shares and is about 17 percent above that stock’s Wednesday closing price of […]
Posted inBusiness, Franklin, River Valley, sj-web
Verso-NewPage merger could be in trouble
As part of the merger agreement, which was announced earlier this month, Verso Paper initiated a debt exchange offer in which holders of its debt would swap their notes for new notes with different terms. The results of that offer have not met the company’s expectations, according to a letter David Paterson, Verso’s CEO, sent […]
Posted inFranklin, River Valley, sj-web
Verso-NewPage merger could bring upheaval before prosperity
The proposed merger of Verso Paper and NewPage Holdings, announced on Jan. 6, sent shockwaves through the local and global paper industries. Verso’s stock shot up more than 570 percent, analysts started chattering about implications for the global paper market, and millworkers in Maine expressed hope the deal would improve circumstances for the more than […]
Posted inBusiness, sj-web
Justice Department, states sue to block airline merger
WASHINGTON — The Justice Department and a number of state attorneys general on Tuesday challenged a proposed $11 billion merger between US Airways Group Inc. and American Airlines’ parent company, AMR Corp. The Justice Department says the deal would result in the creation of the world’s largest airline and that a combination of the two […]