Rayonier Raises Bid for Tembec, Wins Support

Rayonier Advanced Materials has raised its takeover offer for Tembec after two of the Canadian forest products company’s shareholders had threatened to vote against the deal.

Oaktree Capital Management and Restructuring Capital Associates, who together represent approximately 37 per cent of Tembec’s outstanding shares, have agreed to vote in favor of the new proposal. read more >>