- 1325996 B.C. Ltd. has agreed to acquire all outstanding shares of Macro Enterprises Inc. (MCR)
- Common shareholders of Macro will receive $4.00 per share for each common share
- The amount payable is approximately $136 million and Macro will become a subsidiary of 1325996
- Each preferred share will automatically convert into 666.67 common shares
- Participating shareholders are expected to receive either 0.004 of a class A preferred share of 1325996 or 0.004 of a class B preferred share
- Macro Enterprises Inc. (MCR) is up 28.62 per cent trading at $3.91 per share as of 3:02 p.m. EST
1325996 B.C. Ltd. has agreed to acquire all outstanding shares of Macro Enterprises (MCR).
Shareholders of Macro will receive $4.00 per share for each common share.
Upon completion of the arrangement, Macro will become a subsidiary of 1325996
1325996 has obtained binding commitments for senior secured credit facilities from a syndicate of lenders.
Each class A convertible preference share held by Miles will be redeemed by Macro. Miles will receive an amount equal to $2,666.68 per preferred share.
Each preferred share, excluding the ones held by Miles, will automatically convert into 666.67 common shares. The common shareholders will receive $4.00 for each common share.
The participating shareholders are expected to receive either 0.004 of a class A preferred share of 1325996 or 0.004 of a class B preferred share.
1325996 shares will be held by the participating shareholders at the closing of the arrangement.
Macro Enterprises Inc. (MCR) is up 28.62 per cent trading at $3.91 per share as of 3:02 p.m. EST.
