Business
Shoppers Drug Mart Corporation Publishes Management Proxy Circular for Plan of Arrangement with Loblaw Companies Limited
TORONTO , Aug. 20, 2013 /CNW/ - Shoppers Drug Mart Corporation (TSX: SC) (the " Company ...
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[{"type":"text","content":"\n\n\nTORONTO, Aug. 20, 2013 /CNW/ - Shoppers Drug Mart Corporation (TSX: SC)\n (the \"Company\" or \"Shoppers Drug Mart\") today announced that it has posted on the Company's website (www.shoppersdrugmart.ca and on SEDAR www.sedar.com) the management proxy circular relating to the proposed acquisition by\n Loblaw Companies Limited (\"Loblaw\") of all of the issued and outstanding shares of Shoppers Drug Mart\n pursuant to an arrangement agreement dated July 14, 2013 between\n Shoppers Drug Mart and Loblaw (the \"Arrangement\") (as previously announced on July 15, 2013). The notice of meeting and\n management proxy circular (the \"Circular\") has been mailed to Shoppers Drug Mart's shareholders of record as at\n August 12, 2013.\n\n\nA special meeting (the \"Meeting\") of Shoppers Drug Mart shareholders to consider the Arrangement will\n be held at 11:00 a.m. (Toronto Time) on September 12, 2013 at the Glenn\n Gould Studio, CBC Building, 250 Front Street West, Toronto, Ontario,\n Canada. All shareholders are encouraged to vote in person or by proxy.\n Details on how to vote are contained in the Circular.\n\n\nThe board of directors of Shoppers Drug Mart has unanimously determined\n that the Arrangement is in the best interests of the Company and has\n unanimously approved the Arrangement and recommends that you vote FOR\n the special resolution with respect to the Arrangement.\n\n\nCompletion of the Arrangement is conditional on approval by Shoppers\n Drug Mart shareholders, approval by the Ontario Superior Court of\n Justice (Commercial List), compliance with the Competition Act (Canada) and certain other closing conditions customary in transactions\n of this nature. Subject to obtaining such shareholder and court\n approvals, and the satisfaction or waiver of all other conditions\n precedent to the Arrangement, it is anticipated that the Arrangement\n will be completed before the end of the first quarter of 2014.\n\n\nShoppers Drug Mart has retained Laurel Hill Advisory Group (\"Laurel Hill\") to act as proxy solicitation agent and to respond to inquiries from\n Shoppers Drug Mart shareholders. Laurel Hill may be contacted by\n telephone at 1-877-452-7184 toll-free in North America and at\n 416-304-0211 for collect calls outside of North America, or by email at\n [email protected].\n\n\nAbout Shoppers Drug Mart Corpora...