Business
The Churchill Corporation announces receipt of Competition Bureau approval
The Churchill Corporation announces receipt of Competition Bureau approval
About this update from Valhalla Metals Inc.
[{"type":"text","content":"\n\n\n\n Jul. 2, 2010 (Canada NewsWire Group) -- /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\nTSX: CUQ and SDC\n\n The Churchill Corporation ("Churchill") and Seacliff Construction Corp. ("Seacliff") are pleased to announce that the Competition Bureau has approved the proposed acquisition of Seacliff Construction Corp (TSX: SDC) by Churchill. The approval is evidenced by the receipt of an Advanced Ruling Certificate ("ARC") pursuant to section 102 of the Competition Act.\nWith the Competition Bureau's approval, the remaining significant conditions to complete the acquisition are Seacliff's shareholder approval and court approval. Seacliff's shareholder meeting is scheduled for July 9, 2010, with the acquisition closing scheduled for July 13, 2010.\n"The Competition Bureau's approval marks a significant transaction milestone of the previously announced acquisition of Seacliff," commented Jim Houck, President and Chief Executive Officer of Churchill. "We look forward to finalizing all outstanding approvals and conditions of the arrangement with Seacliff setting the stage whereby Churchill can continue its vision to be the most admired construction and industrial services company in Canada. We are progressing well on integration efforts and expect to have our go-forward organizational structure in place at closing," said Houck.\n\nAbout The Churchill Corporation\n\nThe Churchill Corporation provides building construction, industrial insulation and electrical contracting services throughout Western Canada. Churchill common shares are listed on the Toronto Stock Exchange under the symbol "CUQ".\n\nAbout Seacliff Construction Corp.\n\nSeacliff provides general contracting services, electrical contracting and earthmoving services to a wide array of clients in both the public and private sectors, with a majority of its business derived from institutional, commercial, civil and light industrial construction projects. Seacliff is headquartered in Vancouver, BC and operates 22 locations in British Columbia, Alberta, Saskatchewan and Manitoba, as well as two locations in Northwestern Ontario. Seacliff's business is conducted through three business units: Dominion Construction, a general contractor; Canem Systems, an electric...