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Reply #26: Sino-Forest May Go Private, Seek Merger as Martin Tries to Exit ‘Morass’ [View All]

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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 07:17 AM
Response to Reply #25
26. Sino-Forest May Go Private, Seek Merger as Martin Tries to Exit ‘Morass’
http://www.bloomberg.com/news/2011-12-07/sino-forest-ma...

Sino-Forest Corp. (TRE), the Chinese timber company that plunged 74 percent this year after fraud allegations, said going private is among the options under consideration as it attempts to restore its finances and reputation.

The company may also raise additional funds, bring in a strategic investor or seek a merger, Chief Executive Officer Judson Martin said in an interview.

“It is going to be real tough to get back to where we were,” he said in Hong Kong. “We are up for the challenge, but we are also up for looking for all options for our stakeholders.”

Sino-Forest tumbled in June after Carson Block, a short seller, said the company exaggerated its timber holdings. The shares were suspended from the Toronto Stock Exchange in August as Canada’s main securities regulator began an investigation. Canadian police also started a probe.
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