Private equity firm Kelso & Co. is making a takeover bid to acquire Eacom Timber Corp. (TSXV: ETR) for C$182.7 million (U.S. $178.5 million).

The purchase price works out to $0.37 per share.The stock closed at $0.37 on March 22, before the deal was announced, but traded as low as $0.20 in February.

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