Fibrek Inc. (FBK.TO) announced that a proposal has emerged from its strategic alternatives review process, which was initiated by Fibrek's Board following the unsolicited insider bid made by AbitibiBowater Inc. on December 15, 2011. Fibrek noted that its board reaffirmed its recommendation to its shareholders that they reject the Insider Bid and do not tender their common shares.
The company noted that its board is currently in negotiations with a number of third parties in response to the Insider Bid. The Board expects to receive alternative proposals from such third parties. Third parties have until 5:00 p.m. February 3, 2012 to submit their proposals.
For comments and feedback: editorial@rttnews.com