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Companies in the timber industry / Daily News / Global Trends / Market Analysis / Forestry / Lumber / Sawmilling / Wood Products / Global / North America
December 17, 2019

Canfor’s takeover by Jim Pattinson facing growing opposition from shareholders

Canfor’s takeover by Jim Pattinson facing growing opposition from shareholders

The bid by billionaire Jim Pattison to take Canfor Corp. private is facing growing opposition from shareholders, though the investment firm has no plans to sweeten its bid for the Canadian lumber company.

Several investors have balked at Pattison’s offer of $16 a share, saying it undervalues the firm that traded at more than twice that price in 2018. Proxy votes were due today, with results being released later and a final vote on Wednesday in Vancouver still possible.

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