Business
RSA Shareholders and Canadian Competition Bureau Approve Offer to Acquire RSA Insurance Group PLC ("RSA")
RSA Shareholders and Canadian Competition Bureau Approve Offer to Acquire RSA Insurance G...
About this update from Intact Financial Corporation
[{"type":"text","content":"\n \n \n \n RSA Shareholders and Canadian Competition Bureau Approve Offer to Acquire RSA Insurance Group PLC (\"RSA\")\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.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prngen3{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n ,\n \n Jan. 18, 2021\n \n /CNW/ - Intact Financial Corporation (TSX: IFC) (\"Intact\" or the \"Company\") is pleased to report that, at the RSA Court Meeting and the RSA General Meeting, each held earlier today in connection with the offer for RSA by Regent Bidco Limited (\"Bidco\"), a wholly-owned subsidiary of Intact (the \"Acquisition\") to be effected by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the \"Scheme\"):\n \n \n \n \n \n \n \n (A)\n \n \n \n \n \n \n the requisite majority of Scheme Shareholders voted to approve the Scheme; and\n \n \n \n \n \n \n \n \n (B)\n \n \n \n \n \n \n the requisite majority of RSA Shareholders voted to pass resolutions to implement the Scheme.\n \n \n \n \n \n \n \n Details of the resolutions passed are set out in the scheme document published on\n \n 16 December 2020\n \n in relation to the Acquisition (the \"Scheme Document\").\n \n \n In addition, Intact has received unconditional approval for the Acquisition from the Canadian Competition Bureau, which issued a no-action letter on\n \n 12 January 2021\n \n .\n \n \n The closing of the Acquisition is expected to occur in the second quarter of 2021 subject to receipt of approval from the relevant regulatory and antitrust authorities and the satisfaction or (where capable of waiver) waiver of other conditi...