Fraser Papers Inc. announced that, following the extended deadline of January 26, 2010, it had received no additional offers to purchase the Company’s specialty papers business under the court supervised sale process (the Bid Process).
As a result, Fraser Papers has terminated the Bid Process and will continue to work diligently to clear the remaining conditions and complete the firm purchase offer sponsored by the Company’s secured creditors that was signed on December 22, 2009 (the Purchase Agreement).
