Resolute Forest (ABH) Extends Deadline on Fibrek Bid
Up)
AbitibiBowater Inc., doing business as Resolute Forest Products (NYSE: ABH) has extended to February 23 the expiry date for its offer to acquire all the issued and outstanding common shares of Fibrek Inc.
The offer to acquire all of the issued and outstanding shares of Fibrek made by Resolute, together with RFP Acquisition Inc., a wholly-owned subsidiary, is more fully described in the offer circular and other ancillary documentation that Resolute filed on December 15, 2011, on the Canadian Securities Administrators' website, as varied and extended. The offer will expire at 5:00 p.m. (Eastern Standard Time) on February 23, 2012, unless it is extended or withdrawn by Resolute. Resolute continues to work diligently with a view to obtaining all required approvals from the Canadian regulatory authorities. As of the close of business on February 10, approximately 66 million common shares of Fibrek had been deposited to the offer, representing approximately 52% of the outstanding common shares.
Resolute and its board will evaluate all available options concerning the competing offer announced by Fibrek on February 10.
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The offer to acquire all of the issued and outstanding shares of Fibrek made by Resolute, together with RFP Acquisition Inc., a wholly-owned subsidiary, is more fully described in the offer circular and other ancillary documentation that Resolute filed on December 15, 2011, on the Canadian Securities Administrators' website, as varied and extended. The offer will expire at 5:00 p.m. (Eastern Standard Time) on February 23, 2012, unless it is extended or withdrawn by Resolute. Resolute continues to work diligently with a view to obtaining all required approvals from the Canadian regulatory authorities. As of the close of business on February 10, approximately 66 million common shares of Fibrek had been deposited to the offer, representing approximately 52% of the outstanding common shares.
Resolute and its board will evaluate all available options concerning the competing offer announced by Fibrek on February 10.
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