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* Mead Corp. said it’s cutting about 500 out of a total of 14,000 jobs, selling nonstrategic assets and taking a second-quarter restructuring charge of about $80 million to focus on its core businesses. Mead, a leading maker of school and office supplies, will use proceeds from the asset sales to expand its core business lines.
* Pen-Tab Holdings Inc. is buying Newell Co.’s Stuart Hall stationery and school supplies business for $110 million, giving it licenses to Warner Bros. Looney Tunes characters, among others.
* Campbell Soup Co. agreed to buy closely held Fortun Foods Inc., maker of Stockpot brand fresh soups, for undisclosed terms.
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