West Fraser Timber Co Ltd T.WFG

Completion of SIB

[Dunworkin2]

Seems like a win for everyone: those that tendered their shares at $97, (and can now buy back in at lower prices should they choose), a win for the company, and a win for current shareholders who watched as fewer shares out should result in higher EPS, and favorable re-rates going forward.

All we need is for the economy to not tank. :)

VANCOUVER, BC, Aug. 20, 2021 /PRNewswire/ - West Fraser Timber Co. Ltd. ("West Fraser" or the "Company") (TSX and NYSE: WFG) today announced that it has taken up and purchased for cancellation a total of 10,309,278 common shares ("Shares") at a price of C$97.00 per Share under its substantial issuer bid ("SIB") for an aggregate purchase price of C$1.0 billion.

The Shares purchased represent approximately 8.7% of the total number of West Fraser's issued and outstanding Shares and Class B shares at the time the SIB was announced in early July 2021. After giving effect to the SIB, West Fraser will have 106,134,898 Shares and 2,281,478 Class B shares issued and outstanding. No Class B shares were purchased under the SIB.

[Dadsaid2]

Hows that working out for you so far? Dutch auctions never benefit the common shareholder as the shares plunge after closing as they have yesterday and today. Once again WFG management has put the boots to the common holders and just wasted $1 billion. A change at the top is way overdue.... GLTA

[Frost19]

I think the drop has more to do with the lumber price being where it is than SIB.  Spending 40% of their cash at June 30 to buyback 9% shares is a positive thing.  No doubt they will re instate the NCIB and contiue to buyback ~2% per month going forward which will help even more

[dosperros]

  Hows that working out for you so far?  --Instant gratification and equity investing do not go hand in hand.  Ultimately you have the same share price as you'd have with any other disbursement, but fewer shares. Sure you want a lavish div but think that's payable at $420 lumber ?  Nope. I'll take the share reduction any day.    Dutch auctions

[Dadsaid2]

Hey dos sorry to hurt your feelings or "grind your gears". I'm glad it got some blood going and a response on the WFG bullboard. I really don't care anymore as l only have a couple hundred shares left after selling out way back when the first number was a 1. All your analytics and all the natter and noise about how great share buy backs are, won't save any lumber company when