Will Indigo go private? Shareholders set to vote on sale offer

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By Staff The Canadian Press

Posted May 27, 2024 7:32 am

1 min read

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Indigo Books & Music Inc. shareholders are expected to ballot Monday greeting connected whether nan retailer should judge a sweetened connection from a holding institution that plans to return nan bookstore concatenation private.

The $2.50-per-share connection comes from Trilogy Retail Holdings Inc. and Trilogy Investments L.P., which are owned by Gerald Schwartz, nan spouse of Indigo main executive Heather Reisman. The Trilogy companies primitively offered $2.25 per stock but boosted nan magnitude of nan bid successful April.

For nan connection to beryllium accepted, it requires support by a two-thirds mostly ballot of Indigo shareholders and a elemental mostly ballot from shareholders not linked to Trilogy and its affiliates.

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The connection already has nan support of a typical committee of independent board Indigo formed to measure nan woody and it won support from nan Ontario Superior Court of Justice past month.

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If shareholders work together to nan deal, nan institution has said it expects nan transaction to adjacent successful June and its shares to beryllium delisted from nan Toronto Stock Exchange sometime after.

Through nan Trilogy firms, Schwartz is nan controlling shareholder of Indigo. He owns astir 56 per cent of nan company’s issued and outstanding communal shares, while different 4.6 per cent beryllium to Reisman done a different holding company.

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