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Tembec Inc (TMB.TO)

TMB.TO on Toronto Stock Exchange

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3:12pm EDT
Change (% chg)

$0.08 (+1.77%)
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$4.53
Open
$4.60
Day's High
$4.63
Day's Low
$4.56
Volume
101,418
Avg. Vol
492,007
52-wk High
$4.83
52-wk Low
$0.88

Latest Key Developments (Source: Significant Developments)

Rayonier and Tembec receive antitrust clearance from Competition Bureau of Canada
9:00am EDT 

Aug 18 (Reuters) - Rayonier Advanced Materials Inc :Rayonier Advanced Materials and Tembec announce antitrust clearance from the Competition Bureau of Canada in connection with the transaction.Rayonier Advanced Materials Inc - ‍Subject to obtaining other necessary approvals, transaction will be completed in Q4 of 2017​.  Full Article

Rayonier Advanced Materials and Tembec announce antitrust clearance from Chinese Ministry Of Commerce in connection with the transaction
Friday, 11 Aug 2017 05:00pm EDT 

Aug 11 (Reuters) - Rayonier Advanced Materials Inc :Rayonier Advanced Materials and Tembec announce antitrust clearance from Chinese Ministry Of Commerce in connection with the transaction.Tembec Inc - ‍expected that transaction will be completed in Q4 of 2017​.  Full Article

Rayonier Advanced Materials and Tembec announce approval from Superior Court Of Québec
Monday, 7 Aug 2017 10:27am EDT 

Aug 7 (Reuters) - Rayonier Advanced Materials Inc :Rayonier Advanced Materials and Tembec announce approval from Superior Court Of Québec in connection with transaction.It is expected that transaction with Tembec will be completed in Q4 of 2017.  Full Article

Rayonier Advanced Q2 earnings per share $0.03
Wednesday, 2 Aug 2017 04:47pm EDT 

Aug 2 (Reuters) - Rayonier Advanced Materials Inc ::Rayonier Advanced Materials reports second quarter 2017 results.Q2 pro forma earnings per share $0.11.Q2 earnings per share $0.03.Q2 sales $201 million versus I/B/E/S view $214.3 million.Q2 earnings per share view $0.25 -- Thomson Reuters I/B/E/S.Rayonier Advanced Materials Inc - ‍reaffirming pro forma EBITDA guidance at high-end of $190 to $200 million initial range​.Rayonier Advanced Materials Inc - ‍on-track for $30 million of cost transformation improvements in 2017 with $15 million achieved year-to-date​.Rayonier Advanced Materials Inc - ‍acquisition of Tembec expected to close in q4​.Rayonier Advanced Materials Inc - ‍expects net income of $32 to $39 million for 2017​.Rayonier Advanced Materials Inc - ‍anticipates capex of approximately $60 million, including investment in Lignotech Florida project for 2017​.Rayonier Advanced Materials Inc - 2017 ‍cash flow from operations and adjusted free cash flows anticipated to be $142 to $152 million and $90 to $100 million, respectively​.  Full Article

Rayonier and Tembec report termination of the Hart-Scott-Rodino waiting period
Monday, 31 Jul 2017 08:10pm EDT 

July 31 (Reuters) - Rayonier Advanced Materials Inc ::Rayonier Advanced Materials and Tembec announce termination of the Hart-Scott-Rodino waiting period.Rayonier Advanced Materials Inc -received notification from U.S. DOJ and FTC that Hart-Scott-Rodino premerger notification waiting period terminated.  Full Article

Tembec Inc Q3 earnings per share C$0.17
Wednesday, 26 Jul 2017 08:08am EDT 

July 26 (Reuters) - Tembec Inc :Tembec reports financial results for its third fiscal quarter ended June 24, 2017.Q3 earnings per share C$0.17.Q3 sales C$419 million versus C$376 million.Tembec Inc - ‍overall, June 2017 quarterly results exceeded expectations as several business units generated earnings ahead of forecast​.Tembec Inc - newsprint market continues to experience declining demand and will require further capacity reduction to maintain a balanced market.Tembec - "‍strongly disagree" with preliminary determinations made by U.S. Department of Commerce​ on countervailing duties related to lumber shipments.Tembec - company incurred a $4 million charge in June 2017 quarter for CVD deposits only.Tembec - ‍there was no expense in June 2017 quarter related to antidumping duties deposits​.Tembec - qtrly ‍lumber shipments were equal to 87% of capacity, unchanged from prior quarter​.Tembec - "‍it appears that high-yield pulp prices have reached their peak and small declines are expected in second half of calendar year​".  Full Article

Oaktree supports for Rayonier Advanced Materials' acquisition of Tembec at revised price
Monday, 24 Jul 2017 07:47am EDT 

July 24 (Reuters) - Rayonier Advanced Materials Inc :Oaktree announces support for Rayonier Advanced Materials' acquisition of Tembec at revised price.Oaktree Capital Management - urges other Tembec shareholders to vote in favor of of Rayonier Advanced Materials' acquisition of Tembec.  Full Article

Oaktree Capital urges Tembec shareholders to vote against proposed acquisition by Rayonier​
Thursday, 20 Jul 2017 04:00pm EDT 

July 20 (Reuters) - Tembec Inc :Oaktree confirms over 50% of outstanding Tembec shares intend to vote against proposed acquisition by Rayonier.Oaktree Capital says urges all Tembec shareholders to vote against proposed acquisition by Rayonier​.Oaktree Capital Management - investment funds managed by Oaktree Capital Management beneficially own 19.9% of common stock of Tembec Inc.Oaktree Capital - continues to urge Tembec shareholders to follow recommendation of Glass Lewis, vote against Rayonier's deal, unless offer price is increased.  Full Article

Tembec Inc says reiterates interested parties were provided confidential information
Wednesday, 19 Jul 2017 11:36am EDT 

July 19 (Reuters) - Tembec Inc :Tembec provides transaction update.Tembec says ‍no third party made or communicated intention to make alternative deal proposal since announcement of deal with Rayonier Advanced Materials.Company reiterates reasons for unanimous recommendation of board of directors of tembec to vote for arrangement.If arrangement with Rayonier Advanced Materials is not approved by Tembec shareholders, Tembec will continue to operate on a stand-alone basis ​.If arrangement is not approved by Tembec shareholders, either co or Rayonier AM to be entitled to terminate arrangement agreement at option.Reiterates that interested parties were provided confidential information, including current and expected financial results.  Full Article

Glass Lewis recommends shareholders vote against Rayonier's proposed acquisition of Tembec
Wednesday, 19 Jul 2017 08:41am EDT 

July 19 (Reuters) - Tembec Inc -:Glass Lewis recommends shareholders vote against Rayonier'S proposed acquisition of Tembec.Oaktree Capital Management L.P. says agree with Glass Lewis's conclusion that Tembec shareholders vote against proposed transaction with Rayonier​.  Full Article

BRIEF-Rayonier and Tembec receive antitrust clearance from Competition Bureau of Canada

* Rayonier Advanced Materials and Tembec announce antitrust clearance from the Competition Bureau of Canada in connection with the transaction