Clearwater Paper could become acquisition target for BillerudKorsnas

Dec. 21, 2021 7:41 AM ETClearwater Paper Corporation (CLW), BLRDYWRK, GPKBy: Joshua Fineman, SA News Editor1 Comment

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  • Clearwater Paper (NYSE:CLW) may become a takeover target for BillerudKorsnas if the Swedish company looks to expand its North American platform, according to RBC.
  • The RBC comments come after the Swedish pulp & manufacturer agreed to acquire Verso Corp. (NYSE:VRS) yesterday, which analysts analyst said would be negative for companies such as Clearwater (CLW), Graphic Packaging (NYSE:GPK) and WestRock (NYSE:WRK).
  • "Given BillerudKorsnäs’s desire to grow in North America, we think that Clearwater Paper could become an acquisition target given that its competitors are much larger," RBC analyst Paul Quinn wrote in a note.
  • Clearwater Paper plunged 12% yesterday after the Verso deal and following BMO's downgrade to market perform at BMO.

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