The ‘t’s have been crossed and the ‘i’s have been dotted. West Fraser and Norbord have jointly announced the transaction in which West Fraser will acquire Norbod has in an all-stock deal has been completed.
Under the terms of the transaction, Norbord shareholders will receive 0.675 of a common share of West Fraser for each Norbord Share held. Norbord’s shareholders approved the deal on January 19th, 2021, and the Ontario Supreme Court of Justice gave the deal a green light a few days later.
A spokesperson from Norbord says the wood supply shortage in the 100 Mile House area was a key factor in the 100 Mile House OSB Mill closing. The spokesperson says those dynamics haven’t changed, and the closure is still viewed as permanent.
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