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U.S. timber exports to China are suddenly surging, a bright spot for an industry still reeling from weakness in the housing market.
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Weyerhaeuser posted a fourth-quarter profit as the timber-products company's revenue and margins improved.
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Three hedge funds that together own a chunk of Smurfit-Stone Container said they intended to vote against Rock-Tenn's $3.5 billion deal for the packaging products company.
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De La Rue's shares dropped over 15% after French peer Oberthur said it was abandoning its bid for the company, following De La Rue's rejection of Oberthur's improved $1.48 billion takeover offer.
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Rock-Tenn agreed to purchase Smurfit-Stone Container for $3.5 billion in cash and stock just seven months after Smurfit emerged from bankruptcy proceedings.
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