CANADA: Chinese firm signs MoU to acquire Wescast

The MOU is regarding a proposed transaction pursuant to which Bohong would acquire, by way of a plan of arrangement under the Business Corporations Act (Ontario), 100% of the issued and outstanding capital of Wescast at an expected price of approximately CAD 13.60 (US $13.77 ) per share in cash, bas...

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Bibliographic Details
Published injust - auto global news
Format Newsletter
LanguageEnglish
Published London GlobalData plc 07.09.2011
Subjects
Acquisitions & mergers
Automobile industry
Development banks
State court decisions
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Summary:The MOU is regarding a proposed transaction pursuant to which Bohong would acquire, by way of a plan of arrangement under the Business Corporations Act (Ontario), 100% of the issued and outstanding capital of Wescast at an expected price of approximately CAD 13.60 (US $13.77 ) per share in cash, based on (and subject to adjustment on account of changes to) Wescast's expected transaction expenses and currently outstanding shares and share-based payment obligations on a fully diluted basis (the Acquisition).