Vancouver, BC, Canada — Canfor Corporation (TSX:CFP) (“Canfor”) today announced that, based on the recommendation of an independent committee of Canfor’s board of directors (the “Special Committee”), it has entered into an arrangement agreement (the “Arrangement Agreement”) with Great Pacific Capital Corp. (and an affiliate of Great Pacific) (“Great Pacific”). Under the terms of the Arrangement Agreement, Great Pacific, which along with its affiliates owns approximately 51% of the issued and outstanding common shares of Canfor (a “Canfor Share”), will acquire all of the Canfor Shares it does not already own for cash consideration of $16.00 per Canfor Share (the “Consideration”) by way of a statutory plan of arrangement under the Business Corporations Act (British Columbia) (the “Transaction”).
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