Tembec shareholders approve takeover by Rayonier
Overwhelming 95% in favour of the $1 billion friendly offer.
Rayonier ups offer for Tembec, wins support from deal opponents
Oaktree Capital and Restructuring Capital now onboard for $4.75 per share.
Tembec warns of risk stock price will fall if takeover rejected
Two largest shareholders oppose the deal; looking for a higher offer price.
Rayonier vows to ‘come to bat’ for Tembec in softwood battle
Merged company will keep Canadian headquarters in Montreal.
Rayonier makes US$807M friendly takeover offer for Tembec
Proposed takeover requires approvals from courts, regulators and shareholders, and is expected to close in the second half of 2017.
Tembec CEO expects high lumber prices will prevent layoffs for now
But situation could change in Quebec if prices fall during the end to the home construction season.
Tembec expects $55M from Quebec big user electricity rebate program
A $136 million capital investment in Temiscaming specialty cellulose plant qualifies it for about 40%.
Tembec suspends operations at Senneterre sawmill
Closing begins Feb. 8, 148 jobs affected by weakness in softwood, high costs.
Tembec reaches settlement at Temiscaming Site
Deal with 650 unionized workers expires in Sept. 2018.
Strike shuts down Tembec’s Temiscaming manufacturing complex
A four-year collective agreement expired on Sept. 30.
Tembec workers in Quebec reject last company offer
Serves as a strike mandate if employer remains ‘intransigent’: Unfor.
West Fraser tops global softwood lumber production, but Canfor narrows gap
International Wood Markets survey says overall global softwood production grew by only 2%.
Tembec sells its pulp mill in Chetwynd, BC
Paper Excellence will restart the operation, shut down since September 2012.
Fortress Paper says Chinese duties will harm Canada's pulp sector
Fortress, Tembec and two other Canadian producers are currently paying a 13% levy to supply China.
Tembec secures additional funding for cellulose project at Quebec site
The company expects cogeneration project to improve annual adjusted EBITDA by $48 million.