Content about Takeover

May 14, 2012

A hostile takeover battle between the nation’s two largest suppliers of construction aggregates -- one of the chief ingredients of concrete -- was put on a four-month hiatus by a Delaware court on May 14. Although the stay is only temporary, pending the outcome of an appeal, Martin Marietta must put a halt to its efforts to combine the two companies, which include a stock-exchange offer and an effort to elect its own directors to Vulcan’s board.

December 6, 2011

Resolute Forest Products has announced its intention to acquire all the issued and outstanding common shares of Fibrek Inc. The offer of C$1 per share in cash, or C$0.55 in cash and 0.0284 of a Resolute Forest Products common share will expire on or before Dec. 31.

According to Resolute, the offer represents a premium of approximately 39% over the closing price of Fibrek's shares on Nov. 28, and a premium of approximately 31% over the volume-weighted average trading price of the shares on the Toronto Stock Exchange or the 20 trading days ending on that date.

July 18, 2011

The takeover battle for Temple-Inland continues to escalate as the Austin, Texas, wood products supplier issued a statement today urging its stockholders to reject an unsolicited offer from International Paper (IP). Temple-Inland’s board of directors voted unanimously to reject the $30.60-per-share offer because it undervalues the company. The timing of the offer is also “extremely opportunistic,” the company said in its official recommendation. 

October 25, 2010

An affiliate of Cerberus Capital Management has dropped its tender offer for BlueLinx Holdings after...