- Intertape Polymer Group (ITP) has received approval under the Investment Canada Act in respect to the company’s acquisition by an affiliate of Clearlake Capital Group
- The affiliate will acquire Intertape for C$40.50 per share by way of a plan of arrangement
- The parties intend to close the transaction on June 28, 2022
- Intertape Polymer Group Inc. is a leader in the development, manufacture and sale of a variety of paper and film-based pressure-sensitive and water-activated tapes
- Clearlake Capital Group, L.P. is an investment firm, operating integrated businesses across private equity, credit, and other related strategies
- Intertape Polymer Group Inc. was up 1.787 per cent, trading at $40.44 at 11:02 AM ET
Intertape Polymer Group (ITP) has received Investment Canada approval regarding the company’s acquisition by an affiliate of Clearlake Capital Group, L.P.
Intertape shareholders will receive C$40.50 per share by way of a plan of arrangement in accordance with Section 192 of the Canada Business Corporations Act.
The parties to the arrangement intend to complete the arrangement on June 28, 2022, subject to the satisfaction of customary closing conditions.
The quarterly dividend of US$0.17 per share announced on May 11, 2022, will be paid immediately before the closing of the arrangement on June 28, 2022,
This is subject to the satisfaction of customary closing conditions, and the payment date of the dividend has been changed to such date. The dividend record date of June 15, 2022 remains unchanged.
Intertape Polymer Group Inc. is a leader in the development, manufacture and sale of a variety of paper and film based pressure-sensitive and water-activated tapes.
Founded in 2006, Clearlake Capital Group, L.P. is an investment firm, operating integrated businesses across private equity, credit, and other related strategies.
Intertape Polymer Group Inc. was up 1.787 per cent, trading at $40.44 at 11:02 AM ET.
