MONTREAL , Feb. 3, 2012 (CNW) - Fibrek Inc. announced today that a proposal has emerged from its strategic alternatives review process, which was initiated by Fibrek's Board following the unsolicited insider bid (the "Insider Bid") made by AbitibiBowater Inc. (carrying on business as Resolute Forest Products) ("Abitibi") on December 15, 2011. The Board of Directors and Management are currently in negotiations with a number of third parties in response to the Insider Bid. While it is impossible at this stage to predict whether any other competing offers will emerge, the Board expects to receive alternative proposals from such third parties. Third parties have until 5:00 p.m. today, February 3, 2012 to submit their proposals. Fibrek will update the market as appropriate as this process continues, but there can be no assurance that a transaction will take place.
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