Jim Pattison has withdrawn his bid to take the Canfor Corporation private.
The decision was made after shareholders in the company rejected the offer.
Only 45 % of the votes cast by minority shareholders were in favour of the deal.
Canfor has issued a news release that can be read right here.
Billionaire Jim Pattison scraps Canfor bid after shareholders reject it
https://t.co/acltsbYgLj pic.twitter.com/LeyzhmBcy5— Financial Post (@financialpost) December 17, 2019
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