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BRIEF-Clearwater Seafoods To Be Acquired By Premium Brands Holdings Corp And A Mi'kmaq First Nations Coalition

Published 2020-11-09, 05:11 p/m
© Reuters.
CLR
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Nov 9 (Reuters) - Clearwater Seafoods Inc CLR.TO :

* CLEARWATER SEAFOODS INCORPORATED TO BE ACQUIRED BY PREMIUM BRANDS HOLDINGS CORPORATION AND A MI'KMAQ FIRST NATIONS COALITION

* CLEARWATER SEAFOODS INC - CLEARWATER SHAREHOLDERS TO RECEIVE $8.25 IN CASH PER CLEARWATER COMMON SHARE

* CLEARWATER SEAFOODS - DEAL RECEIVED UNANIMOUS APPROVAL OF CO'S BOARD OF DIRECTORS AND IS SUBJECT TO APPROVAL BY CLEARWATER SHAREHOLDERS

* CLEARWATER SEAFOODS - ENTERED INTO DEFINITIVE ARRANGEMENT AGREEMENT WITH FNC HOLDINGS REPRESENTING COALITION OF MI'KMAQ FIRST NATIONS & PREMIUM BRANDS

* CLEARWATER SEAFOODS INC - TRANSACTION VALUED AT APPROXIMATELY $1.0 BILLION, INCLUDING DEBT

* CLEARWATER SEAFOODS INC - TRANSACTION IS NOT SUBJECT TO A FINANCING CONDITION

* CLEARWATER SEAFOODS INC - AGREED TO PAY A FEE OF $22 MILLION TO PURCHASER UPON TERMINATION OF ARRANGEMENT AGREEMENT IN CERTAIN CIRCUMSTANCES

* CLEARWATER SEAFOODS - PURCHASER HAS AGREED TO PAY A FEE OF UP TO $26 MILLION TO CO UNDER CERTAIN CIRCUMSTANCES ON TERMINATION OF ARRANGEMENT AGREEMENT

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