International Paper has entered into an agreement to sell its Brazilian corrugated packaging business to Klabin S.A. for R$330M, with R$280M to be paid at closing and R$50M one year thereafter, subject to certain adjustments. This business includes three containerboard mills and four box plants. This agreement follows International Paper's previously announced strategic review of the Brazil packaging business. The transaction is expected to close in the second half of 2020, subject to certain closing conditions and regulatory approvals. The company will continue to run its Papers and Forestry businesses in Brazil.

EVO Payments announced that it has received a $150M investment from funds affiliated with Madison Dearborn Partners, a leading private equity firm that has been a significant shareholder of the company since 2012. MDP's added resources will strengthen EVO's financial profile and enable the company to remain focused on future strategic initiatives as it navigates the global COVID-19 pandemic. A portion of the proceeds from MDP's investment will be used to pay down EVO's revolver borrowings, reducing EVO's pro forma leverage ratio as of December 31, 2019 to 3.3-times net debt to Adjusted EBITDA. The remainder of the proceeds are expected to be used to fund potential future investment opportunities. EVO is also closely monitoring COVID-19 and its impact on the company's business. While EVO's global portfolio represents a diversified mix of merchants across Europe and North America, many of these merchants operate in markets that are subject to broad governmental restrictions on movement and commerce, resulting in substantial reductions in merchant transaction count and volumes. In response, EVO has taken significant and necessary steps to align its cost structure and cash flows with the expected near-term decline in revenues caused by COVID-19. These actions include a series of initiatives to reduce fixed costs up to 20% for the remainder of fiscal 2020 and lower capital expenditures by up to 75% over the same period. Such reductions will depend on the pace in which economic activity returns. Given the unknown duration and extent of COVID-19's impact on EVO's business, the company is suspending its 2020 annual guidance published on February 27, 2020.

Kirkland Lake Gold was informed on Friday, March 27, 2020 that a worker who had been at Detour Lake Mine earlier this month has tested positive for the COVID-19 virus. The worker arrived at the mine with no symptoms on March 12th, began showing symptoms and self-isolated on March 14th and was taken from site on the morning of March 16th. All protocols were followed while the worker was on site. He received a positive result on Thursday, March 26th and informed the company on Friday, March 27th. All Detour Lake Mine employees were notified upon the company being informed of the positive test on March 27th with instruction to be particularly vigilant in self-monitoring for signs of symptoms, particularly until March 30th. Employees were also instructed to complete the Ontario health self-assessment and to self-isolate and consult medical staff if the results indicated a need to do so. In addition, the company has been informed by public health officials involved in the case, that all persons identified by the worker as having been in close contact have been contacted directly by the Porcupine Health Unit and instructed to seek a medical assessment and to self-isolate if advised to do so. Following a request by the company, the Porcupine Health Unit visited Detour Lake Mine on Saturday, March 28th to review the company's health and safety protocols related to the COVID-19 virus. The company is not aware of any workers at Detour Lake Mine, or at any of its other operations or offices, that are showing symptoms or are in self-isolation at site.

Tegna reported on recent acquisition approaches. As has been widely reported, Tegna has received four unsolicited acquisition proposals in recent weeks. Tegna and its advisors engaged substantially with two of these parties and provided them extensive non-public due diligence information. These two parties made their proposals shortly before the recent market dislocation due to the COVID-19 pandemic and both subsequently informed Tegna that they were ceasing discussions. The other two parties have not signed confidentiality agreements to enable due diligence and have not delivered any information on financing sources.Howard Elias, chairman of the Board, said, "In addition to our focus on executing our standalone plan, the Tegna Board and management have meaningfully engaged with third parties to explore opportunities to create value. The Board has been, and remains, willing to consider transactions that create compelling value, and our focus now is on helping management navigate through an unprecedented environment." Dave Lougee, president and CEO, said, "Like every other company, Tegna is operating in uncharted waters due to COVID-19 as we focus on ensuring the health and safety of our employees while continuing to create and preserve value. High-quality local news has never been more important, and we are fortunate to have significant contractual subscription revenues and a strong balance sheet with minimal near-term debt maturities. We are working through the current challenges raised by COVID-19 and are very confident that our long-term growth drivers remain intact."

La-Z-Boy announced its response to the COVID-19 crisis. The company will temporary close its U.S. manufacturing facilities, effective immediately, to be re-evaluated on April 13, 2020. La-Z-Boy also announced the temporary closure of all company-owned La-Z-Boy Furniture Galleries stores is in process, with 130 of 155 stores currently closed, and the temporary closure of its Regional Distribution Centers once in-process orders are delivered. During this time, the company remains committed to serving its customers at La-Z-Boy.com and Joybird.com. Customers may still place orders which will be delivered when operations resume. In light of these temporary closures, the company is taking the following measured actions to facilitate a strong ramp up once it resumes operations: the furlough of approximately 6,800 employees, or approximately 70% of its global workforce; a salary reduction of 50% for senior management and 25% for salaried employees until further notice; additionally, the board of directors will forego the cash portion of its compensation until further notice; a freeze of the company's 401(k) match; elimination of all non-essential operating expenses and capital expenditures; elimination of the June quarterly dividend and termination of the share repurchase program indefinitely to prioritize near-term financial flexibility. In addition to almost $200M in cash, cash equivalents, restricted cash, and investments on hand, to strengthen its financial position and preserve liquidity, the company has proactively drawn $75M under its $150M revolving credit facility. The company plans to report its fiscal 2020 fourth-quarter and full-year results in the second half of June, and will update the investment community with more details on its various initiatives at that time. La-Z-Boy remains committed to paying dividends over the long-term and will seek to resume dividends as business conditions improve. Likewise, the company will reinstate share repurchases when it deems appropriate.