The Globe and Mail reports in its Tuesday, Dec. 9, edition that Transcontinental is selling its flagship packaging business to ProAmpac Holdings for just over $2.2-billion, including debt and lease obligations. The Globe's Jameson Berkow writes that Transcontinental generates about $1.6-billion of its $2.8-billion total revenue from 25 package-making factories in eight countries. Shareholders will get a special $20-per-share dividend after the deal closes in early 2026, exceeding the pre-announcement value of Transcontinental's shares. The stock closed at $23.66 on Monday, nearly 20 per cent higher. After paying the special dividend of about $400-million, the remaining amount will be used for debt reduction, the company said. Transcontinental's packaging is mainly an American business, generating about 73 per cent of its revenue in the U.S. and operating 15 of its 25 production facilities there. Only 9 per cent of its packaging revenue comes from Canada, where it has three facilities. "We are excited to stay in Canada as a sovereign company with a Montreal office, committed to growing our presence here," said Isabelle Marcoux, Transcontinental's executive chair.