West Fraser Timber soars on exclusive report of buyout bid

Boise Cascade

19/07/2022 14:13

** U.S.-listed shares of Canadian lumber co West Fraser
Timber  WFG.N  up 21.6% at $101.20, hovering near record highs
hit in early Mar, premarket on M&A news
    ** PE firm CVC Capital and wood panel manufacturer Kronospan
submitted joint expression of interest to acquire WFG, people
familiar with the matter told Reuters  urn:newsml:reuters.com:*:nL1N2Z00SW
    ** Acquisition terms proposed could not be learned, and the
sources said there is no certainty the parties will agree to any
deal
    ** WFG has roughly $8.2 bln market cap, per Refinitiv data
    ** Shares of other forest products firms also rising before
the bell: Louisiana-Pacific Corp  LPX.N  7.0%, Weyerhaeuser Co
 WY.N  5.0%, Boise Cascade Co  BCC.N  5.6%

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))