Business
Sleep Country Arrangement with Fairfax Receives Final Court Approval
Sleep Country Arrangement with Fairfax Receives Final Court Approval Canada NewsWire ...
About this update from Fairfax Financial Holdings Limited
[{"type":"text","content":"\n\n\n\n Sleep Country Arrangement with Fairfax Receives Final Court Approval\n \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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n\n\n\n TORONTO\n \n\n ,\n \n\n Sept. 25, 2024\n \n\n /CNW/ - Sleep Country Canada Holdings Inc. (\"Sleep Country\" or the \"Company\") (TSX: ZZZ) is pleased to announce that it has obtained a final order from the Ontario Superior Court of Justice (Commercial List) approving the previously announced plan of arrangement under section 192 of the\n \n Canada Business Corporations Act\n \n (the \"Arrangement\"), pursuant to which 16133258 Canada Inc. (the \"Purchaser\"), a newly-formed and wholly-owned subsidiary of Fairfax Financial Holdings Limited (\"Fairfax\") (TSX: FFH) (TSX: FFH.U) will acquire all of the issued and outstanding common shares of Sleep Country for\n \n $35.00\n \n in cash per common share.\n \n\n Receipt of the final order follows Sleep Country's special meeting of shareholders held on\n \n September 18, 2024\n \n where the Arrangement was overwhelmingly approved by the shareholders of Sleep Country.\n \n\n Subject to the satisfaction or waiver of customary closing conditions in the arrangement agreement dated\n \n July 21, 2024\n \n among the Company, the Purchaser and Fairfax (the \"Arrangement Agreement\"), the parties currently anticipate that the closing of the Arrangement will occur on or about\n \n October 1, 2024\n \n .\n \n\n Following completion of the Arrangement, it is anticipated that the common shares of Sleep Country will be de-listed from the Toronto Stock Exchange. Fairfax also intends to cause Sleep Country to apply to cease to be a reporting issuer under applicable Canadian securities laws.\n \n\n Full details of the Arrangement and certain other matters are set out in Sleep Country's management proxy circular dated\n \n August 16, 2024\n \n (the \"Circular\") which has been filed under its issuer profile on SEDAR+ at\n \n\n www.sedarplus....