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Canfor Special Committee Provides Process Update
Canfor Special Committee Provides Process Update Canada NewsWire VANCOUVER, Aug....
About this update from Canfor Corporation
[{"type":"text","content":"\n\n\n\nCanfor Special Committee Provides Process Update\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. 26, 2019\n\n\n\nVANCOUVER, Aug. 26, 2019 /CNW/ - Canfor Corporation (TSX:CFP) (\"Canfor\") announces that the Special Committee of Canfor's board of directors (the \"Special Committee\") has retained Greenhill & Co., Canada, Ltd. (\"Greenhill\") as financial advisor to the Special Committee. Greenhill's mandate will include the preparation of a formal independent valuation of the common shares of Canfor in accordance with Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions. Additionally, the Special Committee has retained Osler, Hoskin & Harcourt LLP as its legal counsel.\n\n \n \n\n \nThe Special Committee was formed to review and evaluate the unsolicited and non-binding proposal by Great Pacific Capital Corp. (\"Great Pacific\") in which Great Pacific 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\"). Canfor received the Indicative Offer on August 10, 2019. The Special Committee of independent directors is comprised of Conrad Pinette (Chair), John Baird, Barbara Hislop and J. McNeill (Mack) Singleton. \nCanfor does not intend to comment on or disclose further developments regarding the Special Committee's evaluation of the Indicative Offer unless and until it deems further disclosure is appropriate or required. \nThe Indicative Offer is non-binding on Great Pacific.  There can be no assurance that a transaction will be completed or on what terms.\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-lo...