B.C. approves MacMillan Bloedel sale

Article Abstract:

The proposed takeover of MacMillan Bloedel Ltd of Vancouver by forestry giant Weyerhauser Co of Federal Way, WA, has been approved by the British Columbian government. The C$3.6-billion stock deal would give Weyerhauser the control of MacMillan Bloedel's 800,000 hectares of public forest land on the coast and an annual allowable harvest of 5.6 million cubic meters of softwood from the British Columbian lands. The deal will still need the approval of Investment Canada and the courts to be completed.

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MacBlo takes full control of Saskfor MacMillan

Article Abstract:

MacMillan Bloedel Ltd of Vancouver, British Columbia, has announced a deal to acquire Saskfor MacMillan for C$80 million. Saskfor is 50-50 venture with the Saskatchewan government-owned Crown Investments Corp. Under the ownership of MacMillan Bloedel, Saskfor will build a C$180-million plant to manufacture oriented strand board near its current mill at Hudson Bay, Saskatchewan. Saskfor has also signed a 20-year forest management deal with Saskatchewan to ensure its long-term supply of wood fibers.

Reconstituted Wood Product Manufacturing, Oriented Strand Board, Saskfor MacMillan

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MacMillan Bloedel to undertake stock buyback

Article Abstract:

MacMillan Bloedel Ltd., the Vancouver, British Columbia-based forestry giant, announced it will buy back as many as 11.2 million common shares over the next 12 months, or up to 10% of shares issued and available for trading. Shares will be bought at current market prices. The company has 124.4 million shares outstanding and a market value of C$1.54 billion. The company said it will cancel any shares that are bought.

Comment:

Will buy back as many as 11.2 million common shares over the next 12 months

British Columbia, Article

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