Paper Shareholders Want Action
With pulp prices at a 12 year high, Mercer International, Inc.’s (NASDAQ: MERC), a large global pulp producer headquartered in Canada but with facilities also in Europe, shareholders announced that they have established a committee to look into unlocking value of the company, either by sale or a joint venture with a partner. Mercer, which has seen its stock price nearly halved at 7.55 recently, off from a five-year high of 13.74, has suffered a steep earnings decline and is projecting no real relief in the coming year. Mercer, which earned 2.27 for the full year in 2006, is expected…