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Canfor Agrees to Go Private

Canfor Corp., Vancouver, B.C., has reached an agreement with majority stockholder Great Pacific Capital Corp. to take the company private.

Canfor Corp., Vancouver, B.C., has reached an agreement with majority stockholder Great Pacific Capital Corp. to take the company private.

Under the proposed near-billion-dollar deal, Great Pacific, which along with its affiliates owns approximately 51% of Canfor’s issued and outstanding common shares, will acquire all Canfor shares it does not already own for $16 cash per share. The proposal will be put to a vote at a special shareholders meeting this month. The price represents an 81.8% premium over its level on the day before Great Pacific made its offer.

 

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