Business
MTY Food Group Inc. Successfully Completes Acquisition of Papa Murphy's Holdings, Inc.
MTY Food Group Inc. Successfully Completes Acquisition of Papa Murphy's Holdings, Inc. ...
About this update from Mty Food Group Inc.
[{"type":"text","content":"\n\n\n\nMTY Food Group Inc. Successfully Completes Acquisition of Papa Murphy's Holdings, Inc.\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\nMONTREAL, May 23, 2019\n\n\n\nMONTREAL, May 23, 2019 /CNW Telbec/ - MTY Food Group Inc. (\"MTY\") (TSX: MTY) is pleased to announce that it has completed the acquisition of Papa Murphy's Holdings, Inc. (\"Papa Murphy's\") (NASDAQ: FRSH) through the consummation of a merger of its wholly-owned subsidiary, MTY Columbia Merger Sub, Inc. (\"Merger Sub\"), with and into Papa Murphy's without a vote of the Papa Murphy's stockholders in accordance with Section 251(h) of the General Corporation Law of the State of Delaware. In the merger, each share of Papa Murphy's common stock outstanding immediately prior to the effective time of the merger (other than any shares held in the treasury of Papa Murphy's, owned by Merger Sub or held by any Papa Murphy's stockholder who has validly exercised its appraisal rights under the General Corporation Law of the State of Delaware) has been converted into the right to receive US$6.45 per share, net to the seller in cash, without interest and subject to any tax withholdings. As a result of the merger, Papa Murphy's became an indirect wholly-owned subsidiary of MTY. Papa Murphy's support center will continue to be located and operated in Vancouver, Washington.\nAs a result of the acquisition, shares of common stock of Papa Murphy's ceased trading prior to the open of the market on May 23, 2019 and will no longer be listed on the Nasdaq Stock Market.\nNational Bank Financial Inc. acted as exclusive financial advisor to MTY and Fasken Martineau DuMoulin LLP and Morrison & Foerster LLP acted as its legal advisors. North Point Advisors LLC acted as exclusive financial advisor to Papa Murphy's and Perkins Coie LLP acted as its legal advisor. \nAbout MTY Food Group \nMTY Food Group franchises and operates quick-service and casual dining restaurants under approximately 75 different banners in Canada, the United States and internationally. Based in Montreal, MTY is a family whose hea...