Business
Cineplex Announces End of "Go-Shop" Period
Cineplex Announces End of "Go-Shop" Period Canada NewsWire TORONTO, Feb. 3, 2020...
About this update from Cineplex Inc.
[{"type":"text","content":"\n\n\n\nCineplex Announces End of \"Go-Shop\" Period\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Feb. 3, 2020\n\n\n\nTORONTO, Feb. 3, 2020 /CNW/ - (TSX: CGX) – Cineplex Inc. (\"Cineplex\") today announced the expiration of the seven week go-shop period provided for in the arrangement agreement dated December 15, 2019 between Cineplex and Cineworld Group plc (LSE: CINE) (\"Cineworld Group\"), pursuant to which Cineworld Group, through an indirect wholly-owned subsidiary, has agreed to acquire all of the issued and outstanding common shares of Cineplex for $34 per share in cash (the \"Transaction\"). \n\n \n \n\n \nDuring the go-shop period, Cineplex was permitted, with the assistance of its financial advisor, Scotiabank, to actively solicit, evaluate and enter into negotiations with third parties that expressed an interest in acquiring Cineplex. During the go-shop period, Scotiabank contacted 52 potential buyers. Three of the potential buyers entered into confidentiality agreements with Cineplex and were granted access to non-public information about Cineplex. Cineplex did not receive a superior proposal during the go-shop period. \nCompletion of the Transaction is subject to obtaining the required approval of Cineplex shareholders at the special meeting of Cineplex shareholders to be held on February 11, 2020, the required approval of Cineworld Group shareholders at a general meeting of Cineworld Group shareholders to be held on February 11, 2020, receipt of the final order of the Ontario Superior Court of Justice (Commercial List) and the satisfaction or waiver of certain other conditions to implementing the Transaction that have not yet been satisfied. Subject to the satisfaction or waiver of all of the conditions to the Transaction, the Transaction is expected to be completed in the first half of 2020. \nCineplex shareholders who have questions regarding the Transaction or require assistance with voting may contact Cineplex's proxy solicitation agent:\nShorecrest GroupToll-free in North America: 1-888-637-5789 Banks and...