FINANCIAL ANALYSTS: Canfor Corp – Pattison goes all-in for Canfor at $16 per share [RBC]
excerpt from RBC Dominion Securities
Great Pacific Capital Corp. ("Great Pacific") has made an unsolicited, non-binding proposal to the Canfor Corporation ("Canfor") board of directors to take the company private at $16.00 per share, payable in cash – Great Pacific is a member of The Jim Pattison Group and currently owns approximately 51% of the issued and outstanding shares. According to the press release, the transaction is not subject to financing or due diligence and would provide immediate liquidity for selling shareholders. The proposed price is at an 81.8% premium to Canfor's most recent closing price.
The transaction would require two-thirds of ...