BRIEF-Morguard Corporation Announces Going Private Proposal For Temple Hotels Inc. At $2.10 Per Common Share In Cash
Reuters
Published Nov 15, 2019 09:56
Updated Nov 15, 2019 11:54
BRIEF-Morguard Corporation Announces Going Private Proposal For Temple Hotels Inc. At $2.10 Per Common Share In Cash
Morguard Corp MRC.TO :
* MORGUARD CORPORATION ANNOUNCES GOING PRIVATE PROPOSAL FOR TEMPLE HOTELS INC. AT $2.10 PER COMMON SHARE IN CASH
* MORGUARD CORP - EXPECTS THAT BOARD OF DIRECTORS OF TEMPLE WILL ESTABLISH A SPECIAL COMMITTEE OF INDEPENDENT DIRECTORS TO CONSIDER PROPOSED TRANSACTION
* MORGUARD CORP - MINORITY SHAREHOLDERS OWNING ABOUT 16.9% OF TEMPLE HOTELS INC SHARES AGREED TO SUPPORT PROPOSED DEAL
* MORGUARD - EXPECTS THAT PROPOSED TRANSACTION WOULD BE IMPLEMENTED BY WAY OF A PLAN OF ARRANGEMENT UNDER CANADA BUSINESS CORPORATIONS ACT
* MORGUARD CORP - PROPOSED TRANSACTION WOULD NOT BE CONTINGENT ON FINANCING
* MORGUARD CORP - INFORMED TEMPLE IT IS NOT PREPARED TO ENTERTAIN ALTERNATIVE TRANSACTIONS, HAS NO INTENTION OF DISPOSING OF ITS HOLDING IN TEMPLE
* MORGUARD CORP - CURRENTLY OWNS ABOUT 72.6% OF ISSUED AND OUTSTANDING TEMPLE COMMON SHARES
* MORGUARD CORP - PROPOSED DEAL WOULD NOT BE CONTINGENT ON FINANCING
* MORGUARD - EXPECTED TEMPLE SHARES HELD BY CO, ARMOYAN, IF VOTED IN PROPOSED DEAL FAVOUR, WOULD BE SUFFICIENT FOR NEEDED TEMPLE SHAREHOLDER APPROVALS
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.