- Intertape Polymer Group (ITP) has been acquired by an affiliate of Clearlake Capital Group by way of a plan of arrangement
- The purchaser acquired all of the outstanding shares of Intertape for $40.50 per share
- The money will be provided to former shareholders as soon as practicable
- Consequently, the shares of Intertape Polymer Group will be de-listed from the TSX
- 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 0.074 per cent, trading at $40.48 at 2:01 PM ET
Intertape Polymer Group (ITP) has been acquired by an affiliate of Clearlake Capital Group.
The previously approved transaction was by way of a plan of arrangement in accordance with Section 192 of the Canada Business Corporations Act.
Following the terms of the arrangement, the purchaser acquired all of the outstanding shares of Intertape for C$40.50 per share.
As a result of the transaction, the shares of Intertape Polymer Group will be de-listed from the Toronto Stock Exchange shortly. The company will apply to cease to be a reporting issuer in all the provinces and territories of Canada.
The company will also file a Form 15 with the U.S. Securities and Exchange Commission to de-register the shares of the company and to terminate its obligation to file reports with the SEC.
Intertape Polymer Group Inc. is a recognized leader in the development, manufacture and sale of a variety of paper and film-based, pressure-sensitive and water-activated tapes, stretch and shrink films, protective packaging, woven and non-woven products and packaging machinery for industrial and retail use.
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 0.074 per cent, trading at $40.48 at 2:01 PM ET.