Resolute Forest Products has acquired an additional 9.9 million shares of Fibrek Inc., giving the company approximately 70.9% of the outstanding Fibrek shares as of May 14. Resolute’s purchase offer remains open until May 17.
Resolute Forest Products has acquired an additional 9.9 million shares of Fibrek Inc., giving the company approximately 70.9% of the outstanding Fibrek shares as of May 14. Resolute’s purchase offer remains open until May 17.
Resolute’s $1-per-share offer was viewed as a hostile takeover, and strongly opposed by the Fibrek board.
Fibrek operates a northern bleached softwood kraft pulp mill at St. Felicien, Que., and two recycled bleached kraft pulp mills in the United States. The St. Felicien mill was previously owned by Resolute, and several Resolute sawmills in the area provide fibre for the mill.
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