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ShawCor Ltd. Announces negotiations to acquire Garneau Inc.

Published on 2006-03-31. Author : SpecialChem

ShawCor Ltd. (TSX: SCL.SV.A, SCL.MV.B) announced that it has made an unsolicited approach to Garneau Inc. concerning a possible transaction whereby ShawCor would acquire all of the outstanding shares of Garneau Inc. other than shares held by certain members of the Garneau family. It is anticipated that such a transaction would proceed by way of a plan of arrangement to be approved by shareholders of Garneau Inc. ShawCor has been granted a limited period of exclusivity to negotiate and settle the terms of a definitive agreement with Garneau Inc. While discussions are ongoing, no binding agreement has been entered into by the parties.

Source: ShawCor Ltd.

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