Daily Archives: November 22, 2017

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Business & Politics

Rayonier takes long road to close Tembec deal

By Barry Critchley
The National Post
November 20, 2017
Category: Business & Politics
Region: Canada, Canada East

Almost six months to the day. That was the time it took for Florida-based Rayonier Advanced Materials Inc. to acquire Montreal-based Tembec Inc., a US$900 million transaction that closed Monday. In that deal, Tembec shareholders received $4.75 a share payable in cash, shares or some combination, subject to overall caps of two-thirds cash and one-third stock. …But getting over the line — in what is probably standard time — was quite the journey as this transaction was different in a couple of ways. For starters, there was considerable opposition from one major shareholder, Oaktree Capital Management L.P. …And just like the fairy tale: all the investors ended up happy.

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Forestry

Opinion: Congress must fix wildfire funding problem

By Temperince Morgan, executive director The Florida Nature Conservancy
Tallahassee Democrat
November 21, 2017
Category: Forestry
Region: United States, US East

Temperince Morgan

As the U.S. fights wildfires nationwide, the federal government is burning through money that could go toward making forests healthier and less fire prone. At more than $2.4 billion, the government has spent more money fighting fires in 2017 than any other wildfire season on record. Fires have burned nearly 9 million acres, according to the National Interagency Fire Center, and fires are still blazing in many states.  In Florida, nearly 2,800 fires burned 200,030 acres so far in 2017, primarily occurring during a three-month drought, and including many acres across the northern part of the state. Fire management and funding are critical issues.  Not all wildfires are problematic nor need to be extinguished. …We need to break the cycle — and Congress holds the keys to a solution. We need to change how we fund firefighting.

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