Jim Pattinson makes offer to take over Canfor
Jim Pattison's Great Pacific Capital Corp. has made an offer to buy the rest of Canfor Corp. it does not already own for $16 per share, an offer that values the lumber, plywood, pulp and paper company at about $2 billion. Vancouver-based Great Pacific already owns about a 51 per cent stake in Canfor and plans to take the company private. The cash deal is estimated at $981.7 million. Great Pacific says the proposed transaction will allow for the elimination of the significant costs related to maintaining a public company listing and allow for ...
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