Great Pacific Capital, a member of The Jim Pattison Group, offered to take Canfor, an integrated forest products company based in Vancouver, private for $1.5bn. The proposed offer price represents a premium of 81.8% to the most recent closing price. Great Pacific, which already owns about 51% of Canfor’s shares, said it has proposed that the offer is structured by way of a “court-supervised statutory plan of arrangement.” In response to the offer, Canfor cautioned its shareholders that the offer is non-binding on Great Pacific and reiterated that there is no certainty of the offer being pursued by Canfor.