Western Forest Products Inc T.WEF

US$1.25 Billion issuer bid for West Fraser

[phoenix_trader]

With limited capex and dividends planned for WEF, will an issuer bid be announced for WEF?


WEST FRASER ANNOUNCES US$1.25 BILLION SUBSTANTIAL ISSUER BID

West Fraser Timber Co. Ltd.'s board of directors has approved the commencement of a substantial issuer bid, pursuant to which the company will offer to purchase from shareholders for cancellation up to $1.25-billion (U.S.) of its outstanding common shares. The Offer will proceed by way of a "modified Dutch auction" procedure with a tender price range from US$80.00 to US$95.00 per Share, representing a 1% discount to a 17% premium over the Company's volume-weighted average price on the New York Stock Exchange over the last 20 trading days.

[dosperros]

There should be cash on hand now (reported Q1) to buy back 30-50% of shares. Will they? Depends on hot the BC water is. They have a seemingly existenital need to diversify and you will likely see a forray to the US before a SIB rightly or wrongly. They have a more ad hoc NCIB in place.; It appears it's been exhusted. They can re-up that now or go SIB. Another issue, at large, is barring WFG

[firstgrowth99]

great stuff doperos but what are you saying will it go up yet