On October 28, 2019, Canfor Corporation announced its arrangement agreement with Great Pacific Capital Corp. Under the terms of the arrangement agreement, Great Pacific will acquire all of the Canfor shares it does not already own for cash consideration of $16.00 per share, approximately $2 billion overall.
Canfor is based in Vancouver and has forestry operations in B.C., Alberta, the U.S. and Sweden. The company primarily deals in softwood lumber and also owns the majority of Canfor Pulp Products Inc, one of the world’s largest global producers of market northern softwood kraft pulp.
Great Pacific, based in Vancouver, BC, is a member of the Pattison Group.
Osler, Hoskin & Harcourt LLP advised the Special Committee of Canfor with a team led by Trevor Scott and Jeremy Fraiberg and consisting of Alan Hutchison (Corporate), Patrick Sullivan (Corporate), Dov Begun (Tax), Matias Milet (Tax) Sagar Memon and Ian Morrison.