Resolute Paper, formerly known as Abitibi Bowater, has made an offer to acquire all the shares of Fibrek. Fibrek is now facing a superior offer proposed by Mercer International Inc.
Fibrek’s President and Chief Executive Officer Pierre-Gabriel Cote comments: "Our shareholders have been presented with two offers, Abitibi's offer at $1.00 and Mercer's offer at $1.30.
"Our board has worked diligently to maximize value for all our shareholders and will continue to take action not to let Abitibi, Fairfax, Oakmont, Pabrai and Steelhead, whose interests appear to be very different from our other shareholders, take advantage of our other shareholders and deprive them of a fair offer," concluded Mr. Lacroix.
