The Toronto Stock Exchange reports that West Fraser Timber Co. Ltd. has made an offer dated April 26, 2022, to purchase up to $1.25-billion (U.S.) of its common shares at a purchase price ranging from $80 (U.S.) per share to $95 (U.S.) per share. According to the TSX, the offer will expire at 5 p.m. Vancouver time on June 2, 2022, unless the offer is extended or withdrawn.
To tender to the offer, shareholders must return the letter of transmittal together with share
certificates (if applicable) to Computershare Investors
Services Inc. (the depositary) at its principal offices in
Toronto or follow the procedures for book-entry transfer
as set out in the offer. The company will
select the lowest purchase price per share between
$80 (U.S.) and $95 (U.S.) that will allow it to purchase
the maximum number of shares tendered having an
aggregate purchase price not exceeding
$1.25-billion (U.S.).
According to the TSX, the notice of guaranteed delivery must be completed
and received by the depositary before the offer expiry time.
The letter of transmittal together with share certificates
(if applicable) pertaining to the notice of guaranteed
delivery must be received by the depositary before 5
p.m. Vancouver time on the second trading day on
the TSX after the offer expiry date.
The TSX notes that the company may retain a dealer manager or dealer
managers to form a soliciting dealer group to solicit
acceptances of the offer. In that event, the company will
pay customary soliciting dealer fees in connection with
the tender of shares. Shareholders will not be obligated
to pay any fee or commission if they accept the offer by
using the services of a dealer manager. Trades on June 2, 2022, will settle on June 3, 2022.
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