Business
Shoppers Drug Mart Receives Court Approval in Connection with Proposed Plan of Arrangement with Loblaw Companies Limited
TORONTO , Sept. 16, 2013 /CNW/ - Shoppers Drug Mart Corporation (TSX: SC) ("Shoppers Drug ...
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[{"type":"text","content":"\n\n\nTORONTO, Sept. 16, 2013 /CNW/ - Shoppers Drug Mart Corporation (TSX: SC)\n (\"Shoppers Drug Mart\") and Loblaw Companies Limited (TSX: L) (\"Loblaw\")\n today announced that the Ontario Superior Court of Justice (Commercial\n List) has issued a final order approving the previously announced\n proposed transaction pursuant to which Loblaw will acquire all of the\n issued and outstanding common shares of Shoppers Drug Mart by way of a\n plan of arrangement under section 192 of the Canada Business Corporations Act (the \"Arrangement\").\n\n\nCompletion of the Arrangement remains conditional on compliance with the\n Competition Act (Canada) and certain other closing conditions customary in transactions\n of this nature. Subject to the satisfaction or waiver of all other\n conditions precedent to the Arrangement, it is anticipated that the\n Arrangement will be completed before the end of the first quarter of\n 2014.\n\n\nAbout Shoppers Drug Mart Corporation\n\n\nShoppers Drug Mart Corporation is one of the most recognized and trusted\n names in Canadian retailing. Shoppers Drug Mart is the licensor of\n full-service retail drug stores operating under the name Shoppers Drug\n Mart (Pharmaprix in Québec). With 1,244 Shoppers Drug Mart and\n Pharmaprix stores operating in prime locations in each province and two\n territories, Shoppers Drug Mart is one of the most convenient retailers\n in Canada. Shoppers Drug Mart also licenses or owns 57 medical clinic\n pharmacies operating under the name Shoppers Simply Pharmacy\n (Pharmaprix Simplement Santé in Québec) and six luxury beauty\n destinations operating as Murale. As well, Shoppers Drug Mart owns and\n operates 62 Shoppers Home Health Care stores, making it the largest\n Canadian retailer of home health care products and services. In\n addition to its retail store network, Shoppers Drug Mart owns Shoppers\n Drug Mart Specialty Health Network Inc., a provider of specialty drug\n distribution, pharmacy and comprehensive patient support services; and\n MediSystem Technologies Inc., a provider of pharmaceutical products and\n services to long-term care facilities.\n\n\nFor more information, visit www.shoppersdrugmart.ca.\n\n\nAbout Loblaw Companies Limited\n\n\nLoblaw Companies Limited, a subsidiary of George Weston Limited, is\n Canada's largest food retailer and a l...