Court of Quebec Rules in Favor of Mercer in Fibrek Deal
March 12, 2012 - Mercer International on Friday announced that, on appeal, the Court of Quebec has ruled in favour of Mercer and Fibrek Inc., reversing the decision of the Bureau de decision et de revision (Quebec) (the "Bureau") dated February 23, 2012.
As previously announced, on February 23, 2012, the Bureau issued a cease trade order against the private placement by Fibrek of 32,320,000 special warrants to Mercer at a price of C$1.00 per special warrant (the "Private Placement").
Jimmy S.H. Lee, Mercer's President and Chief Executive Officer, stated: "We are very pleased with the result of this appeal, believing the Court of Quebec's decision properly reflects applicable securities and corporate law principles. We now look forward to effecting our offer to acquire all of the outstanding common shares of Fibrek, which was mailed to Fibrek shareholders on February 29, 2012 (the "Offer") and completing the Private Placement."
SOURCE: Mercer International Inc.
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