Canfor Corporation announced that, based on the recommendation of an independent committee of Canfor’s board of directors, it has entered into an arrangement agreement with Great Pacific Capital Corp.
Under the terms of the Arrangement Agreement, Great Pacific, which along with its affiliates owns approximately 51% of the issued and outstanding common shares of Canfor, will acquire all of the Canfor Shares it does not already own for cash consideration of $16.00 per Canfor Share
…Conrad Pinette, Chair of the Special Committee, said, “Following the conclusion of this evaluation, we are pleased to have reached an agreement with Great Pacific.
The Special Committee believes that the transaction represents fair value for Shareholders and is the correct path forward for Canfor, Canfor employees, communities and Shareholders.”
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