(USA) The New York Stock Exchange has suspended trading of Pope & Talbot and taken actions to permanently remove the company from the Big Board.
The decision was based on the "abnormally low" trading price for the company's stock. It was effective at the end of trading Tuesday.
Shares of Portland-based Pope & Talbot Inc. (NYSE: POP) have been in a freefall since the company announced it had violated the terms of an arrangement with its creditors on Aug. 6. The company subsequently announced it was putting all of its assets up for sale.
Pope & Talbot shares have lost 83 percent of their value since the Aug. 6 announcement, closing at 37 cents Tuesday. The company's market cap has been reduced to around $6 million.
The 158-year-old pulp and lumber company is still one of the largest in Portland, with $682 million in assets and $133 million in long-term debt. It employs 2,400, including 280 in Oregon.
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Shares of Portland-based Pope & Talbot Inc. (NYSE: POP) have been in a freefall since the company announced it had violated the terms of an arrangement with its creditors on Aug. 6. The company subsequently announced it was putting all of its assets up for sale.
Pope & Talbot shares have lost 83 percent of their value since the Aug. 6 announcement, closing at 37 cents Tuesday. The company's market cap has been reduced to around $6 million.
The 158-year-old pulp and lumber company is still one of the largest in Portland, with $682 million in assets and $133 million in long-term debt. It employs 2,400, including 280 in Oregon.">
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