Possible merger between UPM and Myllykoski
Sept 28 2010 UPM confirmed Tuesday morning that it is engaged in discussions with Myllykoski concerning a potential take-over of Myllykoski's operations in Finland, Germany and United States.
UPM confirms that discussions are going on with the Finnish family owned publication paper company Myllykoski concerning a potential take-over of Myllykoski's operations in Finland, Germany and United States.
According to UPM, the discussions will continue. However, there are a number of significant issues that remain unresolved. Therefore, according to a UPM spokes-person, there can be no certainty that the discussions between UPM, Myllykoski and its lenders will result in a merger or take-over by UPM.
Myllykoski has during a period of time been in negotiations with its financiers on the company's debt. The negotiations have been prolonged and will continue, according to Myllykoski. Myllykoski confirms that the company has been engaged in negotiations with various partners regarding structural arrangements and says the negotiations with UPM are ongoing.
The result of the discussions between UPM and Myllykoski will be published by Papernet, when the discussions reach a conclusion, or would the discussions be terminated.
UPM and Myllykoski say they will not comment on the negotiations in any further detail.