Tuesday, January 10, 2012

Resolute Forest Products Reaffirms Offer


Resolute Forest Products (AbitibiBowater) has announced that is would issue a notice of variation to the offer circular and other ancillary documentation in connection with its outstanding offer to acquire Fibrek Inc.  The company said the documents would describe certain changes with the sole purpose of addressing comments from the SEC.  CEO Richard Garneau said the action “does not change our firm belief that the offer we announced on November 28th presents Fibrek’s shareholders with a compelling opportunity.  The fact that three of their largest individual shareholders, representing approximately 46% of the outstanding shares, have agreed to tender their shares to our offer supports that belief.”