West Fraser Timber Co. Ltd. (TSX:WFG) entered into an agreement to acquire Sawmill of Angelina Forest Products, LLC for approximately $300 million on October 12, 2021. The total purchase price is approximately $300 million, subject to certain post-closing adjustments.

West Fraser intends to finance the acquisition with cash on hand. The transaction is subject to successful completion of U.S. regulatory reviews and satisfaction of customary conditions. As of December 1, 2021, the U.S. regulatory review has been completed and the other closing conditions have been satisfied.

The transaction is expected to close on December 1, 2021. Jefferies LLC acted as financial advisor to Angelina Forest products lumber mill located in Lufkin, Texas in the transaction.