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AbitibiBowater Inc Increases Fibrek Inc.'s Ownership To 63.3%


Friday, 4 May 2012 08:18pm EDT 

AbitibiBowater Inc announced that it took up and accepted for payment 12,305,679 additional shares of Fibrek Inc. deposited to offer as of the close of business on May 4, 2012. Together with the shares the Company acquired up to and including May 3, Resolute holds approximately 63.3% of the currently outstanding shares. As aggregate consideration for the shares taken up May 4, 2012, Resolute will distribute approximately 350,000 newly issued shares of common stock and $6.8-million in cash through RFP Acquisition Inc., a wholly owned subsidiary. The Company also announced that it has extended to May 17, at 5 p.m. the expiry time for its offer. As further described in the offer circular and other ancillary documentation related to the offer (as amended), Resolute intends to carry out a second-step transaction to acquire the Fibrek shares not deposited in the offer. The offer to acquire all of the issued and outstanding shares of Fibrek made by Resolute, together with RFP Acquisition, a wholly owned subsidiary, is more fully described in the offer circular and other ancillary documentation that Resolute filed on December 15, 2011, on the SEDAR website maintained by the Canadian Securities Administrators, as varied and extended. The offer expires on May 17, 2012, at 5 p.m. (Eastern Time). 

Company Quote

17.47
0.39 +2.28%
17 Apr 2014