RE:$280 per thousand board feet
I don't think the board would support a takeover but a SIB in the $25-$30 range would be nice. They might try to take over GFP.
It's wild that a company that made $6.69 last quarter (and will make another $4ish this quarter) is only trading for $25. That will put them back in a net-cash position at the end of Q2.
Looking ahead, Scotia has Q3 at $1.56 earnings on $575 lumber. Even at that run-rate it's trading at 4x earnings. RL is at $564 today.
I get that the market is looking at a sudden stop in housing, and that makes some sense. But less building now just makes the US housing deficit larger for 2024 and beyond. It will also mean even less investment in lumber mills.