RICHMOND HILL, ON—Unisource Canada Inc. has cancelled its planned acquisition of Gould Paper Canada Ltd. In a press release dated July 16, the company stated, “Unisource Canada Inc. has been unable to reach a conclusive agreement with respect to the acquisition of Gould Paper Canada Ltd. in a timely manner and, as a result, has decided not to pursue the acquistion further at this time."
Where this leaves ownership of Gould is unclear, as calls to Unisource and Gould Paper were not immediately answered.

The original purchase agreement was made in mid-May.

Earlier this week, Unisource announced that it is planning a takeover of national distributor Mondrian-Hall, which filed for bankruptcy on July 8. That deal is scheduled to be completed by mid-August.