Business
Garneau Inc. announces termination of arrangement agreement
Garneau Inc. announces termination of arrangement agreement.
About this update from Green Arrow Resources, Inc.
[{"type":"text","content":"\n\n\n\n\nCALGARY, Oct. 5 /CNW/ - GARNEAU INC. (TSX: GAR) today announced that the\nArrangement Agreement pursuant to which ShawCor Ltd. was to have acquired\nGarneau Inc. has been terminated. As a result, the proposed acquisition will\nnot proceed.\nThe originally scheduled closing in late May was delayed pending a review\nby the Competition Bureau (the \"Bureau\"). The decision not to proceed is based\non the inability of the parties to resolve outstanding issues with the Bureau\nand the prospect of further delays.\n\nAbout Garneau Inc.\n------------------\nGarneau Inc.'s primary business is the application of high performance\nprotective coatings and linings for oil and gas pipeline protection.\nAdditionally, Garneau Inc. designs and fabricates oilfield equipment for both\ndomestic and international markets. During more than 30 years of operating\nexperience, Garneau Inc. has developed significant expertise and innovative\ntechnology, and has maintained a long-term focus on continuously improving the\npipe coating process with cost-effective, quality coatings. A talented and\neffective management team provides the vision and experience for long-term\nprofitable growth and increasing shareholder value. The company's Website can\nbe accessed at: http://www.garneau-inc.com/\n\n%SEDAR: 00008952E\n\n\n","length":1365,"tagName":"div"}]