03:22:45 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



West Fraser Timber Co Ltd
Symbol WFT
Shares Issued 75,883,759
Close 2017-05-15 C$ 57.90
Market Cap C$ 4,393,669,646
Recent Sedar Documents

Globe says Pattison acquires stake in West Fraser

2017-05-16 07:40 ET - In the News

Also In the News (C-CFP) Canfor Corp

The Globe and Mail reports in its Tuesday edition that B.C. billionaire Jim Pattison has acquired a 10.1-per-cent share of West Fraser Timber, raising speculation about a potential merger with Canfor. The Globe's Brent Jang writes that Mr. Pattison is the biggest shareholder in Canfor, in which he holds a 47.8-per-cent stake. "We believe there are significant synergies in the potential combination of North America's two largest lumber producers, including but not limited to unprecedented scale and geographic diversification," RBC analyst Paul Quinn said in a note. Mr. Pattison, 88, has become the second-largest shareholder in West Fraser, holding 7.92 million shares through Great Pacific Capital Corp. West Fraser shares rose $1.19 to close at $57.90 on Monday, increasing the value of his stock to $459-million. The biggest shareholder in West Fraser is Seattle's Ketcham Investments, controlled by the family of Hank Ketcham. Canfor shares climbed 21 cents to finish at $18.91 on Monday, making Mr. Pattison's stock worth $1.2-billion. Over the past dozen years, West Fraser and Canfor have diversified by acquiring sawmills in the United States. Competition issues could be a concern, especially in B.C.

© 2024 Canjex Publishing Ltd. All rights reserved.