Here is your Cleveland, Tenn. | Bradley County, Tenn. news on mymix1041.com, sponsored by Toyota of Cleveland:
Canada’s Paper Excellence, through its U.S. unit Domtar, agreed to buy Resolute Forest Products Inc (RFP.TO) on Wednesday in a deal valued at about $2.7 billion, sending the U.S.-listed shares of Resolute up by 65% before the bell.
Paper Excellence will pay $20.5 per Resolute share, representing a premium of about 64% to the company’s closing price on Tuesday.
The deal is the latest move from the Richmond, British Columbia-based Paper Excellence to expand its footprint in North America, having completed the buyout of U.S. rival Domtar last year.
The Montreal, Quebec-based Resolute which makes market pulp, tissue, wood products and paper was formed by the merger of North American forestry groups Bowater and Abitibi in 2007.
The deal, expected to close in the first half of 2023, will be carried out by way of a merger of Resolute with Domtar and would retain Resolute’s production locations and jobs, Paper Excellence said in a statement.
The Tennessee Wildlife Resources Agency reports a Hamilton County man fell into Chickamauga Lake and was killed by a boat on Wednesday.
It happened just after 1:00pm near the bridge on Highway 60 in Rhea County.
The TWRA says 34-year-old Jordan Matthews was sitting on the railing at the bow of an older pontoon boat when he fell into the water without a lifejacket and was ran over by the vessel.
The TWRA says people at the scene got Matthews out of the water and performed CPR.
Matthews was taken to Rhea Medical Center where he was pronounced dead.
The TWRA says this is the 17th boating related fatality in Tennessee in 2022.
For 2022, the state of Tennessee will have a Sales Tax Holiday, and it will look a bit different than it has in the past.
New this year will be a special month-long gun safes and safety equipment for the entire month of July and grocery sales tax holiday for the entire month of August.
Shoppers will enjoy the tax-free shopping for clothes, school supplies and computers, with some restrictions applied.
The sales tax holiday will begin July 29 and run until 11:59pm July 31.
Fo the July Sales Tax Holiday for gun safes and safety equipment, the legislature extended the holiday an additional fiscal year.
The August Sales Tax Holiday for food and food ingredients does not include alcoholic beverages, tobacco, candy, dietary supplements, and prepared food.