No-Go On Proposed Purchase Of Canfor

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548381510056-0'); });

Canfor Corp. has agreed with Great Pacific Capital Corp., a wholly-owned subsidiary of Great Pacific, to terminate a previously announced arrangement agreement that called for Great Pacific, which already owns 51% of Canfor, to purchase the remainder of the shares for nearly $1 billion.

Based on a vote of Canfor shareholders, the “majority of the minority” vote required under a “Protection of Minority Security Holders in Special Transactions” instrument, will not be achieved, coming up at least 5% short in votes.

The deal, which would have turned Canfor from a public company into a private one, appeared to have the momentum to reach fruition, with the board of directors recommending it following endorsement from various special committees and shareholder services.

The board had stated that the purchase price represented a significant premium over the existing share price, and that ongoing industry headwinds in the forestry sector had caused some instability in trading prices and in company operations, including multiple curtailments of sawmill production.

Latest News

Union Pacific Signs Contract For Domestic Rails

Union Pacific Railroad and Rocky Mountain Steel Mills have reached a new, seven-year contract for the domestic production of steel rails, underscoring Union Pacific’s clear commitment to buying the majority of its rail from a…

Fulghum Completes First 155-Ft., 45-Ton Crane Installation

Fulghum Industries has completed installation and certification of a 155-ft., 45-ton log crane at Burt Lumber in Washington, Ga., marking the first crane of that size built by the company. Certified on April 27, 2026,…

Survey Says: U.S. Softwood Lumber Producers Temper Outlook for 2026-27

U.S. softwood lumber producers are entering 2026-27 with a slightly less optimistic outlook than they held a year ago, according to Timber Processing’s 2026 Annual U.S. Sawmill Operations & Capital Expenditure Survey. Only 38% of…

« Older Entries

Next Entries »

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548381237439-0'); });

Find Us On Social

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548380448760-0'); });

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548380578329-0'); });

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548380709898-0'); });

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548380656716-0'); });

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548380767732-0'); });

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1548380810300-0'); });

Newsletter

The monthly Timber Processing Industry Newsletter reaches over 4,000 mill owners and supervisors.

Subscribe Now

Subscribe/Renew

Timber Processing is delivered 10 times per year to subscribers who represent sawmill ownership, management and supervisory personnel and corporate executives. Subscriptions are FREE to qualified individuals.

Complete the form

Advertise

Complete the online form so we can direct you to the appropriate Sales Representative.

Contact Us