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HomeNews100 Mile HouseNorbord shareholders approve West Fraser deal, Final Order given by Ontario Supreme...

Norbord shareholders approve West Fraser deal, Final Order given by Ontario Supreme Court of Justice

Norbord shareholders have given the green light to the West Fraser acquisition of the company.

At the special meeting of the holders of Norbord Shares on January 19th, 2021, shareholders overwhelmingly voted for the special resolution to approve the plan of arrangement under section 192 of the Canada Business Corporations Act, in which West Fraser would acquire all of the issued and Outstanding Norbord Shares.

When the deal was announced in November of 2020, the deal for the shares was worth approximately $4 billion CAD. 

68,286,087 votes (99.33%) were casted for the resolution, and 459,864 votes (0.67%) were against.

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The Ontario Superior Court of Justice has approved the transaction by giving the Final Order to Norbord today.

No plans for the Norbord OSB mill in 100 Mile House have been announced by either company since the deal was announced. The mill was indefinitely curtailed in June of 2019 and was later permanently closed in November of 2020.

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