Appleton Papers and Dallas-based Hicks Acquisition Co. II announced today that their $675 million merger plan has been dropped.
Appleton Papers in a statement cited volatile market conditions as the chief reason to discontinue what the companies called a “business combination.”
Appleton Papers said it still will change its name to Appvion, which is a combination of the words “applied” and “innovation,” to reflect its evolution from papermaker to a company that will focus on coating formulations.
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