Reuters reveals CVC, Kronospan eye acquisition of West Fraser Timber

Reuters was first to report that private equity firm CVC Capital and wood panel manufacturer Kronospan have submitted a joint expression of interest to acquire Canadian lumber company West Fraser Timber Co. CVC and Kronospan have informed West Fraser’s management they would like to proceed with deal negotiations. Shares in West Fraser, which has a market capitalization of C$10.6 billion, jumped and were up 15% in afternoon trading on Tuesday.