Canfor Going Private?
CBJ — If Vancouver billionaire Jim Pattison and his company Great Pacific Capital Corp. have their way, lumber producer Canfor Corp. will soon become a private entity.
Great Pacific Capital has put an offer on the table to acquire the remainder of Canfor for $16 per share. Shares in Canfor closed at $8.80 on the Toronto Stock Exchange on Friday.
Great Pacific already owns about a 51% stake in Canfor.
The offer values Canfor at about $2 billion.
Canfor has put together a committee to evaluate the offer and will announce a decision shortly.