Wood Business

Industry News News
West Fraser says no proposal from Kronospan, CVC Capital

July 20, 2022  By  Jennifer Ellson

West Fraser Timber has denied recent market and media speculation about a possible takeover bid.

The company said it “is aware of recent market and media speculation” and admitted previously meeting with wood-based panels manufacturer Kronospan, an existing shareholder, and private equity firm CVC Capital Partners. But the company said it has not received a proposal and there are no ongoing discussions regarding the terms of any transaction.

On Tuesday, July 19, Reuters reported that two European-based firms are interested in acquiring the Vancouver-based forestry company, prompting West Fraser’s stocks to go on a  roller-coaster ride as investors speculated about the reported potential buyout.


Print this page


Stories continue below