Forex Receives a New Offer From Louisiana-Pacific Corporation

January 15th, 2008 | by Administrator |

These renewed agreements continue to allow the emergence of new offers over the securities of Forex to the extent that the Board of Directors of Forex considers such new offers to be superior to the improved offer of Louisiana-Pacific. The break-up fee payable to Louisiana-Pacific is now set at $28 million and Louisiana-Pacific continues to be entitled to match or improve on any new offer.

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Since the announcement on July 28 last of a competing bid by Boise Cascade Corporation, Louisiana-Pacific Corporation was entitled to five working days during which to equal or exceed the Boise Cascade Offer. It will be remembered that Boise Cascade offered $30 in cash or in the form of a term note, or $31 payable by the issue of securities exchangeable into common shares of Boise Cascade.


FOREX still intends to increase its interest in Panneaux Chambord Inc. and plans to examine other means of achieving that objective.


Forex has been advised that Louisiana-Pacific intends to forward its offering circular to Forex shareholders within the next few days.

A world leader in the manufacture of oriented strand board (OSB), Forex also specializes in the production of stud lumber.

FOREX shares trade on the Montreal Exchange under the symbols FOX.A and FOX.B, and its debentures as FOX.DB.

Forex is a leader in the OSB panel industry; it is the largest manufacturer in Canada and the fourth largest in the world.


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