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July 20, 2022

CVC, Kronospan eye acquisition of West Fraser Timber

CVC, Kronospan eye acquisition of West Fraser Timber
Private equity firm CVC Capital and wood panel manufacturer Kronospan have submitted a joint expression of interest to acquire Canadian lumber company West Fraser Timber Co, people familiar with the matter said on Tuesday.    CVC and Kronospan have informed West Fraser's management they would like to proceed with deal negotiations, the sources said. Contemplated acquisition terms could not be learned.    Shares in West Fraser, which has a market capitalization of C$10.6 billion ($8.2 billion), jumped on the news and were up 15% in afternoon trading on Tuesday.  ...

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