Menu
Share
Share this story
Close X
 
Switch to Desktop Site

News In Brief

Its failure to merge with US forest products giant Champion International is a "great disappointment," the chief executive officer of Finland's UPM-Kymmene told a news conference in Helsinki. But despite 18 months of negotiations, he said the world's largest producer of paper for magazines had to pull out of the bidding for Champion - won by US rival International Paper late last Friday for about $7.3 billion - because of debt-burden worries. Champion will pay $210 million in fees and costs for the collapse of the deal with UPM-Kymmene, which now will pursue other merger possibilities.

(c) Copyright 2000. The Christian Science Publishing Society

About these ads

Follow Stories Like This
Get the Monitor stories you care about delivered to your inbox.