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twitterPaper giants in $3 bil. merger
Wednesday, Aug. 29, 2001 | 10:52 a.m.
STAMFORD, Conn. -- Mead Corp. and Westvaco Corp. are merging in a $3 billion deal designed to forge two midsize paper companies into a more formidable global competitor.
Shares of both companies rose more than 6 percent in early trading after today's announcement.
The combined company, to be named MeadWestvaco Corp., will have revenue of more than $8 billion in packaging, coated and specialty papers, consumer and office products and specialty chemicals.
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