Western Forest Products Inc T.WEF

More consolidation - IFP moves on GFP,

[phoenix_trader]

Interfor Corp.'s wholly owned subsidiary, Interfor East Ltd., has acquired a total of 28,684,433 common shares in the capital of Greenfirst Forest Products Inc. from Rayonier A.M. Canada G.P., which represents approximately 16.2 per cent of Greenfirst's issued and outstanding common shares. The total cash consideration was approximately $56-million, or $1.94 per share, and certain price protection provisions will apply in limited circumstances during a defined period following the transaction.

This acquisition was made for investment purposes and builds upon, and is complementary to, Interfor's recent expansion into Eastern Canada through the acquisition of Eacom Timber Corp. in February, 2022. 

Greenfirst is a publicly listed forest products company with seven sawmills and one paper mill in Eastern Canada, and licences providing long-term access to approximately 3.7 million cubic metres of fibre in the provinces of Ontario and Quebec. The sawmills, with a stated annual production capacity of 905,000 million board feet, have a strong geographical fit with Interfor's existing platform of seven sawmills in Ontario and Quebec. 

Senvest Management owns 42 mill GFP shares

Ballantyne Strong owns 29 mill GFP shares

[dosperros]

Like Matthew would say in Dazed and Confused, "would be a look cooler if WEF did it". IFP is off to the races yet is -- still -- alarmingly outpacing the laggards like WEF and CFP. Granted though, WEF is the Tesla of lumber.  None of the performence of course, but all of the die-hard fanboys.  *shrug*