Business
FIRST NATIONAL OBTAINS FINAL COURT APPROVAL FOR PLAN OF ARRANGEMENT
First National Financial Corporation (the "Company" or "First National") (TSX: FN) (TSX: FN.PR.A) (TSX: FN.PR.B) is pleased to announce that today it has obtained a final order from the Ontario Superior Court of Justice (Commercial List) approving the previously-announced plan of arrangement under the Business Corporations Act (Ontario) (the "Arrangement"). Under the Arrangement, a newly-formed acquisition vehicle (the "Purchaser") controlled by private equity funds managed by Birch Hill Equity
About this update from Brookfield Asset Management Inc
[{"type":"text","content":"TORONTO, Oct. 3, 2025 /CNW/ - First National Financial Corporation (the "Company" or "First National") (TSX: FN) (TSX: FN.PR.A) (TSX: FN.PR.B) is pleased to announce that today it has obtained a final order from the Ontario Superior Court of Justice (Commercial List) approving the previously-announced plan of arrangement under the Business Corporations Act (Ontario) (the "Arrangement"). Under the Arrangement, a newly-formed acquisition vehicle (the "Purchaser") controlled by private equity funds managed by Birch Hill Equity Partners Management Inc. and private equity funds managed by Brookfield Asset Management will acquire all of the outstanding common shares (the "Shares") of First National, other than certain Shares owned by the Company's founders, Stephen Smith and Moray Tawse (together with their associates and affiliates), for $48.00 per Share in cash.","length":929,"tagName":"p"},{"type":"image","alt":"First National Financial Corporation Logo (CNW Group/First National Financial Corporation)","displaySize":"","headline":null,"caption":"First National Financial Corporation Logo (CNW Group/First National Financial Corporation)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":156,"url":"https://media.zenfs.com/en/cnwgroup.com/c0f1d56738ef163f51b5619b2d024453"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/t3_oYMG0YmG4Lt_DyDO3.g--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTI3NTtjZj13ZWJw/https://media.zenfs.com/en/cnwgroup.com/c0f1d56738ef163f51b5619b2d024453","width":400,"height":156}},"href":"https://mma.prnewswire.com/media/2788912/First_National_Financial_Corporation_FIRST_NATIONAL_OBTAINS_FINA.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Receipt of the final order follows First National's special meeting of holders of Shares (the "Shareholders") held on September 30, 2025, where a special resolution approving the Arrangement was overwhelmingly approved by Shareholders.","length":249,"tagName":"p"},{"type":"text","content":"Remaining Conditions to Completion of the Arrangement","length":53,"tagName":"p"},{"type":"text","content":"Completion of the Arrangement remains subject to clearance under the Competition Act (Canada) and the satisfaction or waiver of other customary closing conditions tha...