A special committee of Canfor’s board has approved an almost $1-billion offer from a Jim Pattison company to take full control of the lumber giant. Late Monday night, Canfor issued a news release stating an agreement had been struck in which Pattison’s company Great Pacific Capital Corp. “will acquire all of the Canfor shares it does not already own for cash consideration of $16 per Canfor share.” Great Pacific Capital currently owns 51 per cent of Canfor, a public company. Once the transaction is completed subject to a shareholder ...
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