Domtar in its $3 billion acquisition by Paper Excellence




$3 billion


Mergers and Acquisitions

Date Closed

November 2021


Mining and Natural Resources

Lead Office



On May 11, 2021, Domtar announced its acquisition by Paper Excellence. The all-cash transaction valued at $3 billion will provide Paper Excellence with all issued and outstanding shares of Domtar common stock for $55 per share. Upon closing, Domtar will continue to operate as a stand-alone entity. The acquisition aligns with Domtar’s strategic plan to be a leader in the paper and pulp industry and supports the company’s expansion into packaging.

Paper Excellence, with operations in Canada and Brazil, is a paper and packaging company focused on manufacturing pulp and specialty printing, writing and packaging papers.

Domtar is a leading provider of fiber-based products specializing in communication, specialty and packaging papers, market pulp and airlaid nonwovens.

Osler, Hoskin & Harcourt LLP advised Domtar with a team consisting of Michelle Lally, Kaeleigh Kuzma, Chelsea Rubin (Competition/Antitrust & Foreign Investment), Jeremy Fraiberg, Patrick Sullivan (Corporate) and Patrick Welsh (Regulatory, Environmental, Aboriginal and Land).