PAPER PRODUCTS COMPANIES TALKING MERGER
By Adnews Staff
Kimberly-Clark of Dallas is making a $7.1-billion(US) takeover move on Scott Paper of Philadelphia. Kimberly-Clark is negotiating a stock swap to take control of the other paper products company. Together, the duo would form the second-largest consumer products company in the U.S. Scott is the larger player in the Canadian tissues market, holding about a 36% share, compared with Kimberly's 8%. Under the deal, Kimberly shareholders would end up owning 60% of the combined company. In Canada advertising for Scott is done by Toronto-based J. Walter Thompson. Kimberly's Canadian advertising comes out of the U.S. Kimberly-Clark brands include Kleenex, Depends and Huggies. Scott has Scotties, Cottonelle and Viva.
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