Canfor Corporation has successfully finalized its acquisition of all remaining shares of Canfor Pulp Products Inc., consolidating full ownership of its pulp and paper subsidiary. This strategic move will see Canfor Pulp delisted from the Toronto Stock Exchange and cease its public reporting status, streamlining operations for the parent company.
Canfor Corporation announced the completion of its court-approved plan of arrangement to acquire all outstanding Canfor Pulp shares not already owned by Canfor Corp and its affiliates. This transaction marks the end of Canfor Pulp’s status as a publicly traded entity.
Under the terms of the arrangement, former Canfor Pulp shareholders had the option to receive either 0.0425 of a Canfor Corporation common share or $0.50 in cash for each Canfor Pulp share they held. Canfor Corporation issued approximately 912,217 shares and paid around $4 million in cash as aggregate consideration to former shareholders.
With this acquisition, Canfor Corporation now controls 100% of Canfor Pulp’s 65.2 million outstanding shares, an increase from its previous ownership stake of approximately 54.8%. Following the transaction, Canfor Pulp’s shares are expected to be delisted from the Toronto Stock Exchange (TSX) as of the close of market on March 18, 2026. Canfor Corporation also intends to have Canfor Pulp cease to be a reporting issuer under Canadian securities laws.
The deal received strong support from Canfor Pulp shareholders, with the special resolution approving the arrangement passing with 96.02% of all votes and 84.42% of minority votes. The transaction was deemed to be in the best interests of both companies, offering Canfor Pulp shareholders a premium to market prices and the opportunity to participate in the combined entity. For Canfor Corporation, the acquisition streamlines its ownership structure and is expected to yield operational cost synergies.
Canfor Corporation is a Canadian integrated forest products company focused on lumber, pulp and paper, and related wood products. Canfor Pulp Products Inc. is its pulp and paper subsidiary, specializing in market pulp and paper products for global customers.