McMillan LLP acted as counsel to West Fraser Timber Co. Ltd. in connection with the substantial issuer bid.
On July 7, 2021, West Fraser Timber Co. Ltd. announced the commencement of a substantial issuer bid pursuant to which West Fraser will offer to purchase from shareholders for cancellation up to C$1.0 billion of its outstanding Common shares.
The Offer will proceed by way of a “modified Dutch auction” procedure with a tender price range from C$85.00 to C$98.00 per Share. The Offer commenced on July 12, 2021 and will expire on August 17, 2021, unless extended or withdrawn.
The Offer follows the completion of West Fraser’s acquisition of Norbord Inc. earlier this year, the listing of its common shares on the New York Stock Exchange, the refinancing of its credit facilities and the redemption of US$665 million of Norbord Inc.’s bonds.
West Fraser (TSE:WFG) is a diversified wood products company with more than 60 facilities in Canada, the United States, the United Kingdom, and Europe. West Fraser’s products are used in home construction, repair and remodeling, industrial applications, papers, tissue, and box materials.
McMillan LLP acted as Canadian and U.S. securities counsel to West Fraser in connection with the Offer, with a team comprising of Tom Theodorakis (Picture), Michael Taylor, Stephen Wortley, Ravipal Bains, Michelle Wong, Julianna Ivanyi, Joni Liew and Vernon Bajaj. McMillan acted also as Canadian tax counsel with a team comprising of Peter Botz, Michael Friedman and Michael Hassar.
Involved fees earner: Ravipal Bains – McMillan; Peter Botz – McMillan; Michael Friedman – McMillan; Michael Hassar – McMillan; Michael Taylor – McMillan; Tom Theodorakis – McMillan; Stephen Wortley – McMillan;
Law Firms: McMillan;
Clients: West Fraser Timber Co. Ltd.;