Jim Pattison's bid to control Canfor draws mixed feelings in B.C.'s struggling forest towns

Billionaire businessman Jim Pattison poses for photographs during a Canada's Walk of Fame ceremony honouring him, in Vancouver, on Friday February 15, 2019. THE CANADIAN PRESS/Darryl Dyck (Darryl Dyck/Canadian Press)

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A B.C. billionaire's bid to take full control of the province's largest forestry company is likely good for his bottom line, analysts say, but whether struggling mill towns should be heartened by the news is a matter of debate.

Jim Pattison's Great Pacific Capital Corp. wants to purchase the 49 per cent of Canfor it doesn't already own with the intention of taking the company private, a move that led to a bounce in the Vancouver-based company's stock prices Monday.

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Source: CBC News

 

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