Business
Maple Leaf Foods Announces Record Date and Anticipated Closing Date for Spin-Off of Canada Packers
Maple Leaf Foods Announces Record Date and Anticipated Closing Date for Spin-Off of Canada Packer...
About this update from Maple Leaf Foods Inc.
[{"type":"text","content":"\n\n\n\n Maple Leaf Foods Announces Record Date and Anticipated Closing Date for Spin-Off of Canada Packers\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 \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n TSX: MFI\n \n\n\n\n www.mapleleaffoods.com\n \n\n\n\n\n MISSISSAUGUA, ON\n \n ,\n \n\n Sept. 26, 2025\n \n\n /CNW/ - Maple Leaf Foods Inc. (TSX: MFI) (\"MLF\" or the \"Company\") announced today that the previously announced spinoff of its pork operations as Canada Packers Inc. (\"Canada Packers\") by way of a plan of arrangement (the \"Arrangement\") is expected to close on\n \n October 1, 2025\n \n . The record date for the Arrangement (the \"Arrangement Record Date\") is\n \n September 30, 2025\n \n .\n \n\n\n\n\n\n\n\n\n Earlier this year the Company received the required shareholder and court approvals for the Arrangement, and with a favourable ruling from the Canada Revenue Agency expected imminently, it is positioned to move forward with the closing. Pursuant to the Arrangement, MLF will retain a 16% ownership interest in Canada Packers, with the balance of the shares being distributed pro-rata to existing MLF shareholders (\"MLF Shareholders\"). Each MLF Shareholder will receive, for each common share of MLF (\"MLF Common Shares\") held on the Arrangement Record Date, 0.2 of a common share of Canada Packers (\"Canada Packers Common Shares\"), as further described in the management information circular of MLF dated\n \n May 1, 2025\n \n . Based upon 124,826,070 issued and outstanding MLF Common Shares as of\n \n September 25, 2025\n \n , it is expected that there will be approximately 29,720,492 Canada Packers Common Shares immediately following completion of the Arrangement, of which 24,965,214 are to be distributed pro rata to MLF Shareholders and 4,755,278 of which are to be retained by MLF.\n \n\n The Toronto Stock Exchange (the \"TSX\") will implement a \"due bill\" trading market for MLF Common Shares commencing\n \n September 30, 2025\n \n and ending at the close of business on\n \n October 1, 2025\n \n . The MLF Common Shares are expected to trade in the \"due bill\" m...