Has a 270,000-megatonnes per annum capacity of high-yield hardwood pulp.
Overwhelming 95% in favour of the $1 billion friendly offer.
Oaktree Capital and Restructuring Capital now onboard for $4.75 per share.
Two largest shareholders oppose the deal; looking for a higher offer price.
Merged company will keep Canadian headquarters in Montreal.
Acquires Rayonier’s wood products business in Georgia.