Resolute Forest Products has extended to February 13 the expiry date for its offer to acquire all the issued and outstanding common shares of Quebec pulp producer Fibrek Inc.
The extension is intended to allow the Canadian Competition Bureau to complete its review of the proposed acquisition following its request for supplementary information and for the Bureau de révision et décision (Québec) to hear Resolute's application for an order to cease trade the Fibrek shareholder rights plan.
Fibrek continues to oppose Resolute's offer. Hubert T. Lacroix, chairman of the board of Fibrek, said in late January: "Our strategic alternatives review process is well underway and I can confirm that Fibrek is in serious discussions with a number of interested parties concerning potential value-maximizing transactions."