Mercer International Inc. has increased its offer for Fibrek and is now offering to purchase all of the issued and outstanding common shares of Fibrek for $1.30 (up from $1.40).
The increased consideration represents a 40% premium over the unsolicited insider bid made by AbitibiBowater Inc. (doing business as Resolute Forest Products).
Fibrek Inc. had announced that the Supreme Court of Canada has granted Fibrek’s request to expedite the application for permission to appeal the Québec Court of Appeal’s decision to maintain the cease trade order of the proposed private placement of 32,320,000 special warrants to purchase common shares of Fibrek to Mercer International Inc.
