Jim Pattison tables $981.7-million bid to take Canfor private

The 90-year-old Mr. Pattison has a reputation for his long-term investing strategy, sticking with companies through industry downturns. DARRYL DYCK/THE CANADIAN PRESS

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A company controlled by B.C. billionaire Jim Pattison plans to take forestry firm Canfor Corp. private with a $981.7-million cash offer that comes during an industry slump.

Great Pacific Capital Corp. is offering $16 a share for Vancouver-based Canfor’s stock that it doesn’t already own, or 82 per cent higher than the close of $8.80 on Friday.

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Source: The Globe and Mail

 

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