Quisitive Announces Filing and Mailing of the Management Information Circular in Connection with its Special Meeting of Shareholders to Approve the Acquisition by H.I.G. Capital
Risks and uncertainties inherent in the nature of the proposed Arrangement include, without limitation, the failure of the parties to obtain the necessary Shareholder, regulatory, stock exchange and court approvals or to otherwise satisfy the conditions for the completion of the Arrangement; failure of the parties to obtain such approvals or satisfy such conditions in a timely manner; the Purchaser’s ability to complete the anticipated debt and equity financing as contemplated by applicable commitment letters or to otherwise secure favourable terms for alternative financing in connection with the Arrangement; significant transaction costs or unknown liabilities; the ability of the Board to consider and approve, subject to compliance by the Company with its obligations under the Arrangement Agreement, a superior proposal for the Company; the failure to realize the expected benefits of the Arrangement; and general economic conditions.
In respect of forward-looking statements and information concerning the anticipated benefits and completion of the Arrangement, the Company has provided such statements and information in reliance on certain assumptions that it believes are reasonable at this time, including assumptions as to the ability of the parties to receive, in a timely manner and on satisfactory terms, the necessary regulatory, court, stock exchange and Shareholder approvals; the ability of the parties to satisfy, in a timely manner, the other conditions for the completion of the Arrangement, and other expectations and assumptions concerning the proposed Arrangement.
The Special Committee, following discussion with the Company’s financial advisor, concluded that the value of C$0.57 per Share offered to Shareholders under the Arrangement is more favourable (and can be achieved with less risk) than the value that might have been realized through pursuing a number of other strategic alternatives reasonably available to the Company, including carrying on its business on a stand-alone basis, given the Special Committee’s assessment of the current and anticipated future opportunities and risks associated with the business operations, assets, financial condition and prospects of the Company should it pursue such other strategic alternatives.Significant Premium.
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Author / Journalist: Quisitive Technology Solutions Inc.
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