Louisiana-Pacific Corp. Amends Offer for Le Groupe Forex Inc
January 15th, 2008 | by Administrator |“We are the most sophisticated producer of OSB and, therefore, can gain the most in an alliance with Forex. The strategic importance of Forex, its geographic fit with our facilities and its talented management and employees makes this merger a real winner,” said Mark A. Suwyn, Louisiana Pacific Chairman and Chief Executive Officer. “The customers, shareholders and employees of both companies will be well served by this combination.”
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Under the terms of the revised agreement signed with L-P, Forex is prohibited from accepting any other proposal without first giving L-P the opportunity to amend its offer. L-P is entitled to a significant break-up fee of CDN $28 MM if Forex enters into an agreement with a third party and L-P concludes that it is unable to secure Forex for a price that is in the best interests of its stockholders.
Customers Expected
-Synergies/Benefits of Transaction to Forex Employees,
Louisiana-Pacific Corporation (NYSE:LPX), one of North America’s leading building products companies, today announced that it has increased its offer to acquire Le Groupe Forex to CDN $31 per share in cash and/or installment notes at the option of the shareholders.
FORWARD-LOOKING STATEMENTS
Groupe Forex’s management considers that the current price does not reflect the true value of its common shares. A decrease in the number of outstanding common shares further to the redemption will increase the relative value of each. Groupe Forex’s issued and outstanding share capital currently comprises 7,461,428 common shares and 730,880 preferred shares. All of these shares are listed on the Montreal Stock Exchange. Over the last twelve months, Groupe Forex has not redeemed any common shares.
Jean-Jacques Cossette, (819) 825-4841 REPEATS: New York 212-575-8822 or 800-221-2462; Boston 617-330-5311 or
Louisiana-Pacific, now in its 26th year of operation, is a major building products company headquartered in Portland, Oregon, with manufacturing facilities throughout the United States and in Canada and Ireland. Visit L-P’s website at www.LPCorp.com.
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