CXUSF
Canexus CorpOTCPK - Current
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  • Thu, Jun. 30, 4:59 PM
    • Superior Plus (OTC:SUUIF) says it is pulling out of its planned acquisition of rival chemical maker Canexus (OTCPK:CXUSF) after failing to agree on terms of an extension would have allowed for more time to fight off a U.S. legal challenge.
    • The FTC came out Monday in opposition to the merger, saying the deal would lead to higher prices for sodium chlorate, a chemical used to bleach wood pulp that is then processed into paper, tissue and other products.
    • Superior Plus rallied on the news, closing 3.7% higher in Toronto trading; Canexus fell 0.7%.
    | Thu, Jun. 30, 4:59 PM | 1 Comment