Acquisition of Mercer Peace River ("MPR") On December 10, 2018, the Company acquired all of the issued and outstanding shares of MPR for cash consideration of $344,588 , subject to certain customary working capital adjustments. The acquisition results in 100% ownership of a bleached kraft pulp mill in Peace River, Alberta, a 50% joint venture interest in the Cariboo Pulp and Paper Company ("CPP"), an NBSK pulp mill, in Quesnel, British Columbia, and a 50% interest in a logging and chipping operation for the areas underlying MPR's forest management agreements and timber allocations. The acquisition of MPR expands the Company's presence in Asia and adds northern bleached hardwood kraft to its product mix. The following summarizes the Company's allocation of the preliminary purchase price to the fair value of the assets acquired and liabilities assumed from MPR at the acquisition date: Purchase Price Allocation Current assets $ 135,305 Property, plant and equipment 212,894 Investment in joint ventures 54,697 Amortizable intangible assets, timber cutting rights (a) 37,634 Other long-term assets 392 Total assets acquired 440,922 Current liabilities 35,578 Pension obligations 9,747 Deferred income tax 47,912 Other long-term liabilities 3,097 Total liabilities assumed 96,334 Net assets acquired $ 344,588 (a) The timber cutting rights are being amortized on a straight line basis over 30 years. The fair value of the timber cutting rights was determined through the market approach utilizing comparable market data. The values were then discounted at a rate of 12% for 30 years to arrive at the fair value. The purchase price allocation was based on a preliminary valuation and may be revised as a result of additional information obtained regarding the assets acquired and liabilities assumed, and revisions of provisional estimates of fair value, including, but not limited to, the completion of valuations related to property, plant and equipment and the identification of intangible assets. During the three month period ended March 31, 2019 immaterial adjustments were made to the purchase price allocation to reflect the most current valuations of the assets. The purchase price will be finalized during the 12-month measurement period following the acquisition date.