On Nov. 2, 2012, Stella-Jones signed a non-binding letter of intent to acquire McFarland. The definitive agreement provides for a purchase price of approximately $250 million, up from the $230 million previously disclosed, as a result of an increase of approximately $14 million in delivered working capital and other applicable purchase price adjustments.
Closing of the acquisition is expected to occur on or about Nov. 30, 2012 and is subject to customary closing conditions.