Canfor Corporation has completed the acquisition of all Canfor Pulp Products Inc. common shares not already owned by the company, following a court-approved plan of arrangement. The transaction gives Canfor 100% ownership of Canfor Pulp, which is expected to be delisted from the Toronto Stock Exchange as of market close on March 18, 2026. The completion was announced by Canfor Corporation.
Under the arrangement terms, former Canfor Pulp shareholders could elect to receive either 0.0425 of a Canfor Corporation common share or $0.50 in cash per share held. Canfor acquired 29.5 million shares through the process, representing approximately 45% of outstanding Canfor Pulp shares, for total consideration of $4.0 million in cash and 912,217 Canfor Corporation shares.
Canfor Corporation and its affiliates previously held beneficial ownership of 35.8 million Canfor Pulp shares, representing approximately 55% of outstanding shares.
Following the transaction, Canfor now holds 100% of the issued Canfor Pulp shares. Canfor intends to apply for Canfor Pulp to cease being a reporting issuer under Canadian securities laws.
