Marble, columns and stairs
Jul 27, 2021

On August 20, 2021, West Fraser Timber Co. Ltd. (“West Fraser”) announced the completion of its substantial issuer bid (“SIB”) pursuant to which West Fraser purchased from shareholders for cancellation a total of 10,309,278 common shares at a price of C$97.00 per share for an aggregate purchase price of C$1.0 billion.

The SIB followed the completion of West Fraser’s acquisition of Norbord Inc. earlier this year, the listing of its common shares on the New York Stock Exchange, the refinancing of its credit facilities and the redemption of US$665 million of Norbord Inc.’s bonds.

West Fraser is a diversified wood products company with more than 60 facilities in Canada, the United States, the United Kingdom, and Europe. West Fraser’s products are used in home construction, repair and remodeling, industrial applications, papers, tissue, and box materials. West Fraser is listed on the TSX and NYSE.

McMillan LLP acted as Canadian and U.S. securities counsel to West Fraser in connection with the SIB, with a team comprising of Tom Theodorakis, Michael Taylor, Stephen Wortley, Ravipal Bains, Michelle Wong, Julianna Ivanyi, Joni Liew and Vernon Bajaj. McMillan LLP also acted as Canadian tax counsel to West Fraser with a team comprising of Peter Botz, Michael Friedman and Michael Hassar.