Fibrek files Director’s Circular rejecting the AbitibiBowater insider bid:
Fibrek Inc. announced today that its Board of Directors filed its Directors’ Circular on December 30, 2011 recommending that Fibrek shareholders REJECT the AbitibiBowater Inc. (doing business as Resolute Forest Products) unsolicited insider bid made for all issued and outstanding common shares of the company. The Board also recommended that any shareholders who have tendered their common shares WITHDRAW them immediately.
The Board has thoroughly reviewed Abitibi’s Insider Bid to determine the course of action that it believes is in the best interests of Fibrek’s shareholders and other stakeholders. Its formal recommendation and the reasons supporting such recommendation are outlined in its Directors’ Circular filed on December 30, 2011, as contemplated by securities laws.
