Canfor Corp. announced that a Special Committee of its board of directors has retained Greenhill & Co. as financial advisor. Greenhill is preparing a valuation of the common shares of the company. Additionally, the Special Committee has retained Osler, Hoskin & Harcourt as its legal counsel. The Special Committee was formed to evaluate an unsolicited offer by Great Pacific Capital Corp. in which Great Pacific suggested it would be willing to acquire all outstanding common shares of Canfor (excluding those already directly or indirectly owned by Great Pacific) at a price of $16 per common share. The Special Committee of independent directors is composed of Conrad Pinette, John Baird, Barbara Hislop and J. McNeill (Mack) Singleton. Great Pacific CEO Jim Pattison reportedly owns a significant portion of Canfor stock and is a minority owner in West Fraser.
