Canfor Pulp Products Inc. has confirmed that the go-shop period tied to its proposed acquisition by Canfor Corporation has ended without any competing takeover proposals.
The go-shop provision formed part of the arrangement agreement announced on December 3, 2025, under which Canfor Corporation plans to acquire all Canfor Pulp shares it does not already own. Canfor Corp currently holds approximately 54.8% of Canfor Pulp’s outstanding shares.
During the go-shop period, Canfor Pulp and its financial advisor, Stifel Nicolaus Canada, contacted 15 potential third-party buyers to assess interest in a possible alternative transaction. The period expired on January 19, 2026, with no acquisition proposals submitted, the company said.
Under the terms of the arrangement, Canfor Pulp shareholders other than Canfor Corp and its affiliates may elect to receive either 0.0425 of a Canfor Corp common share or $0.50 in cash for each Canfor Pulp share held.
With the go-shop period concluded, Canfor Pulp is now subject to customary non-solicitation provisions, subject to fiduciary-out clauses. If the company were to accept a superior proposal, a termination fee of $500,000 would be payable to Canfor Corp. The agreement does not grant Canfor Corp matching rights in the event of a superior third-party offer.
Completion of the transaction remains subject to customary closing conditions, including shareholder, court and regulatory approvals, as well as approval from the Toronto Stock Exchange. A special meeting of Canfor Pulp shareholders to vote on the transaction is expected to take place in the first quarter of 2026.
Further details will be provided in a management information circular to be distributed ahead of the meeting and filed with Canadian securities regulators.
Canfor Pulp Products Inc. is a North American producer of pulp and paper products, operating manufacturing facilities in northern British Columbia. The company produces northern bleached softwood kraft pulp and kraft paper for global markets and is listed on the Toronto Stock Exchange under the symbol CFX.
Source: Canfor
