Business
Canfor responds to Great Pacific Capital Corp.'s announcement of its unsolicited proposal to take Canfor private
Canfor responds to Great Pacific Capital Corp.'s announcement of its unsolicited proposal ...
About this update from Canfor Corporation
[{"type":"text","content":"\n\n\n\nCanfor responds to Great Pacific Capital Corp.'s announcement of its unsolicited proposal to take Canfor private\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Aug. 11, 2019\n\n\n\nVANCOUVER, Aug. 11, 2019 /CNW/ - Canfor Corporation (TSX:CFP) (\"Canfor\") confirms that, on August 10, 2019, it received an unsolicited and non-binding proposal from Great Pacific Capital Corp. (\"Great Pacific\") pursuant to which Great Pacific has suggested that it would be willing to acquire all outstanding common shares of Canfor (excluding those already directly or indirectly owned by Great Pacific) at a price of $16.00 per common share (the \"Indicative Offer\"). \n\n \n \n\n \nCanfor cautions its shareholders and potential investors that the Indicative Offer is non-binding on Great Pacific and there can be no certainty that the Indicative Offer or any other strategic transaction with Great Pacific or any other person will be pursued by Canfor, supported by Canfor's board of directors (the \"Board\") or ultimately completed.  \nThe Board has constituted a special committee of independent directors (the \"Special Committee\") to review the Indicative Offer and, in consultation with its legal and financial advisors, consider Canfor's strategic alternatives, including Canfor's response, if any, to the Indicative Offer. \nFollowing the Special Committee's review of the Indicative Offer and the receipt of financial and legal advice, Canfor will be in position to respond to the statements made by Great Pacific in its August 11, 2019 press release, should Canfor determine it is appropriate to do so. \nForward Looking Statements\nCertain statements in this press release constitute \"forward-looking statements\" which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. These forward-looking statements include, among others, statement relating to Canfor's expectations regarding the Indic...