Canfor Pulp shareholders OK acquisition by Canfor

Executive Summary

• Canfor Pulp Products Inc. shareholders approved the special resolution for a statutory plan of arrangement whereby Canfor Corp. will acquire all remaining issued and outstanding common shares not already owned by Canfor Corp. and its affiliates.
• The resolution passed with 96.02% of total votes cast and 84.42% of votes excluding those of the purchaser and its affiliates.
• The transaction is expected to close on or about March 17, 2026, subject to final court approval and other conditions, after which shares will be delisted from the Toronto Stock Exchange.

Key Details

• Transaction Structure: Statutory plan of arrangement where Canfor Corp. acquires all remaining common shares of Canfor Pulp Products Inc.
• Shareholder Approval:
  • Total votes cast: 48,213,373 common shares (approx. 73.91% of issued and outstanding shares as of Jan. 20, 2026).
  • Approval rate: 96.02% of total votes; 84.42% excluding purchaser/affiliate votes.
• Consideration: Shareholders (excluding dissenters) receive either:
  • 0.0425 of a common share in the capital of Canfor Corp.; OR
  • $0.50 CAD in cash.
• Timeline:
  • Final court hearing for Supreme Court of British Columbia approval expected: March 11, 2026.
  • Anticipated completion date: On or about March 17, 2026.
• Post-Transaction Status: Common shares expected to be delisted from the Toronto Stock Exchange upon completion.
• Conditions: Completion is subject to satisfaction of all conditions precedent, including final approval by the Supreme Court of British Columbia.

Notable Quotes

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