West-Fraser-Norbord deal
West Fraser Timber to acquire Norbord in all-stock deal valued at $4 billion
Nov 19, 2020 | 7:06 AM
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TORONTO – West Fraser Timber Co. Ltd. has signed a deal to acquire Norbord Inc. in an all-stock transaction valued at $4.0 billion. Under the deal, Norbord shareholders will receive 0.675 of a West Fraser share for each Norbord share they hold. West Fraser shareholders will own 56 per cent of the combined company, with current Norbord shareholders owning 44 per cent. The deal requires approval by a two-thirds majority vote by Norbord shareholders and a simple majority vote by holders of West Fraser’s common and class B shares. Brookfield Asset Management Inc., Norbord’s principal shareholder with a 43 per cent stake, has agreed to support the agreement. The deal is expected to close in the first quarter of 2021.
