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Norbord Obtains Final Court Approval of the Plan of Arrangement and West Fraser Obtains Conditional NYSE Listing Approval
Norbord Obtains Final Court Approval of the Plan of Arrangement and West Fraser Obtains C...
About this update from West Fraser Timber Co. Ltd.
[{"type":"text","content":"\n \n \n \n Norbord Obtains Final Court Approval of the Plan of Arrangement and West Fraser Obtains Conditional NYSE Listing Approval\n \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 Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n and\n \n TORONTO, ON\n \n ,\n \n Jan. 22, 2021\n \n /CNW/ - West Fraser Timber Co. Ltd. (\"\n \n West Fraser\n \n \") (TSX: WFT) and Norbord Inc. (\"\n \n Norbord\n \n \") (TSX: OSB) (NYSE: OSB) today jointly announce that Norbord has obtained a final order from the Ontario Superior Court of Justice (Commercial List) approving the previously–announced plan of arrangement whereby West Fraser will acquire all of the outstanding common shares (the \"\n \n Norbord Shares\n \n \") of Norbord (the \"\n \n Transaction\n \n \"). Pursuant to the Transaction, Norbord shareholders will receive 0.675 (the \"\n \n Exchange Ratio\n \n \") of a West Fraser common share (\"\n \n West\n \n Fraser Share\n \n \n \") for each Norbord Share held.\n \n \n Receipt of the final order follows receipt of the key regulatory approvals in respect of the Transaction and Norbord's special meeting of shareholders held on\n \n January 19, 2021\n \n , where the Transaction was overwhelmingly approved by 99.33% of the votes cast by Norbord shareholders. West Fraser's special meeting of shareholders also took place on\n \n January 19, 2021\n \n , where the issuance of West Fraser Shares in connection with the Transaction was approved by 99.99% of votes cast by West Fraser shareholders.\n \n \n West Fraser and Norbord anticipate that the Transaction will close on\n \n February 1, 2021\n \n , subject to the satisfaction of customary closing conditions.\n \n \n \n Listing of West Fraser Shares on NYSE\n \n \n \n West Fraser has also received clearance from the New York Stock Exchange (\"\n \n NYSE\n \n \") for the listing of the West Fraser Shares subject to satisfaction of customary listing conditions. The West Fraser Shares are expected to be listed on the NYSE shortly following closing under the stock symbol of \"WFG\", at which time the Norbord Shares ...