Business
Shoppers Drug Mart Corporation Announces Mailing of Offer for MediSystem Technologies Inc.
Shoppers Drug Mart Corporation Announces Mailing of Offer for MediSystem Technologies Inc..
About this update from Serrano Resources Ltd.
[{"type":"text","content":"\n\n\n\n\nTORONTO, Aug. 15 /CNW/ - Shoppers Drug Mart Corporation (TSX: SC) today\nannounced that it has mailed to the shareholders of MediSystem Technologies\nInc. (TSX: MDY) its Take-Over Bid Circular in connection with its previously\nannounced offer to acquire all of MediSystem's outstanding common shares for\nan approximate total purchase price of $89.9 million.\nSubject to certain conditions, Shoppers is offering $3.80 in cash per\nMediSystem share or the equivalent of $3.75 in Shoppers common shares plus\n$0.05 in cash per MediSystem share. MediSystem shareholders have the right to\nelect to receive all cash, all Shoppers common shares (plus $0.05 per\nMediSystem common share) or a combination of cash and Shoppers common shares.\nAs described in the MediSystem Directors' Circular accompanying Shoppers'\nTake-Over Bid Circular, the MediSystem board of directors unanimously\nrecommends that MediSystem shareholders accept the Shoppers offer and deposit\ntheir MediSystem shares under the offer. The Shoppers offer will be open for\nacceptance until 8:00 p.m., Toronto time, on September 20, 2006, unless it is\nextended or withdrawn by Shoppers. MediSystem shareholders may obtain a copy\nof the Take-Over Bid Circular, Directors' Circular and other materials (when\navailable) at the SEDAR web site at www.sedar.com or from CIBC Mellon Trust\nCompany, Depositary for the offer, at 1-800-387-0825 (toll free) or (416)\n643-5500 in Toronto.\n\nShoppers Drug Mart Corporation is one of the most recognized and trusted\nnames in Canadian retailing. The Company is the licensor of full-service\nretail drug stores operating under the name Shoppers Drug Mart (Pharmaprix in\nQuDebec). With more than 960 Shoppers Drug Mart and Pharmaprix stores operating\nin prime locations in each province and two territories, the Company is one of\nthe most convenient retailers in Canada. The Company also owns and operates 53\nShoppers Home Health Care stores, making it the largest Canadian retailer of\nhome health care products and services.\n%SEDAR: 00016987EF\n\n\n","length":2111,"tagName":"div"}]