Canadian lumber products company Canfor Corp has rejected billionaire Jim Pattison’s Great Pacific Capital Corp’s proposal to take it private.In August, Great Pacific, which already owned about 51 per cent of Canfor’s shares at that time, had offered $16 per share, or about $2 billion overall to take the company private.
In response to the offer, Canfor had cautioned its shareholders that the offer was non-binding on Great Pacific and had reiterated that there was no certainty of the offer being pursued by Canfor.
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