Business
CML HealthCare Cannot Proceed with $9.00 per Unit Takeover Proposal for Medisys Health Group Income Fund
CML HealthCare Cannot Proceed with $9.00 per Unit Takeover Proposal for Medisys Health Group Income Fund.
About this update from Christina Lake Cannabis Corp
[{"type":"text","content":"\n\n\n\nToronto Stock Exchange Symbol: CLC.UN\n\n\nMISSISSAUGA, ON, Sept. 28 /CNW/ - CML HealthCare Income Fund ("CML\nHealthCare") (TSX: CLC.UN) today announced that it cannot proceed with its\nproposed takeover bid for 100% of the units of Medisys Health Group Income\nFund (TSX: MHG.UN) ("Medisys") for $9.00 per unit. At this time, CML\nHealthCare does not intend to amend its proposed takeover bid.\n\n\n"Our proposed takeover bid of $9.00 per unit was presented to the Board\nof Trustees of Medisys and as communicated to us by the Medisys Board of\nTrustees, our takeover proposal was not acceptable to the Elman family, and\nthe Elman family would not agree to tender their holdings to our offer. Our\nproposal represented significant enhanced value for Medisys' unitholders. It\nremains unclear why our proposal was considered unacceptable," said Paul\nBristow, President and CEO of CML HealthCare.\n\n\nCaution concerning forward-looking statements\n\n\n---------------------------------------------\n\n\nStatements made in this news release, other than those concerning\nhistorical financial information, may be forward-looking and therefore subject\nto various risks and uncertainties. Some forward-looking statements may be\nidentified by words like "may", "will", "anticipate", "estimate", "expect",\n"intend", or "continue" or the negative thereof or similar variations. Readers\nare cautioned not to place undue reliance on such statements, as actual\nresults may differ materially from those expressed or implied in such\nstatements. Factors that could cause results to vary include, but are not\nlimited to: dependence on government-based revenues; pending and proposed\nlegislative or regulatory developments including the impact of changes in\nlaws, regulations and the enforcement thereof; intensifying competition from\nestablished competitors and new entrants in the businesses in which we\noperate; technological change; interest rate fluctuations and general economic\nconditions; insurance coverage of sufficient scope to satisfy any liability\nclaims; fluctuations in operating results; dependence on our operating\nsubsidiary to pay its interest obligations; fluctuations in cash distributions\nand capital investment; management of credit, m...