Powered by

Florida-based Rayonier to acquire forestry-products firm Tembec

May 26, 2017 - The Globe and Mail (Canada)

Tembec Inc. has agreed to a takeover offer from Rayonier Advanced Materials in an $807million (U.S.) friendly deal that further thins out the ranks of Canada's publicly traded forest products companies.

Nearly a decade after emerging from a crisis in North American lumber markets that resulted in its recapitalization, Montreal-based Tembec is selling to Jacksonville, Fla.-based Rayonier for $4.05 a share in cash or the equivalent in Rayonier shares. The $320-million offer, which also inclu...