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REFILE-Rayonier Advanced Materials to buy Tembec for $807 mln including debt
May 25, 2017 / 11:48 AM / 6 months ago

REFILE-Rayonier Advanced Materials to buy Tembec for $807 mln including debt

(Adds full company name in headline)

May 25 (Reuters) - Rayonier Advanced Materials said on Thursday it would buy Canada’s Tembec Inc for $807 million including debt.

Tembec shareholders will get C$4.05 ($3.02) in cash, or 0.2302 of a Rayonier share, for every Tembec share they own, the companies said.

The offer price is at a premium of 37.3 percent to Tembec’s Wednesday close.

The deal includes $487 million in debt.

$1 = 1.3428 Canadian dollars Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Martina D'Couto

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