(The Canadian Press) MONTREAL _ Three years of negotiations between Resolute Forest Products Inc. (TSX: T.RFP, Stock Forum) and environmental groups aimed at protecting Canada's boreal forest have ended in failure, with talks breaking down over how much land to set aside for conservation.
Resolute said Tuesday in a press release it could not accept a proposal from environmentalists that it says would have threatened thousands of jobs in remote communities.
Resolute shares rose 1.6% to $16.93 Tuesday, leaving the company with a market cap of $1.6 billion, based on 94.8 million shares outstanding. The 52-week range is $17.93 and $9.08.