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Article: Louisiana-Pacific Wins Battle for Montreal Forest-Products Maker.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- August 17, 1999
- Author:
CopyrightCOPYRIGHT 1999 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Knight Ridder/Tribune Business News
Aug. 14 -- Louisiana-Pacific Corp. emerged Friday as the likely buyer of Le Groupe Forex Inc., a Montreal forest products manufacturer, after a competing bidder cried "uncle."
Boise Cascade Corp. ended the six-week bidding war by declaring that it would not top L-P's latest offer of $547.3 million in cash and assumed debt. George Harad, Boise Cascade's chairman and chief executive, said his company's offer of $538 million "fully and fairly priced Forex."
"To continue bidding at a price over the current offer would not be in the best interests of Boise Cascade and our shareholders," Harad said.
The ...