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Wajax Announces Acquisition of Tundra Process Solutions
Wajax Announces Acquisition of Tundra Process Solutions Canada NewsWire ...
About this update from Wajax Corporation
[{"type":"text","content":"\n \n \n \n Wajax Announces Acquisition of Tundra Process Solutions\n \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 Canada NewsWire\n \n \n \n \n \n TSX Symbol:  WJX\n \n \n \n \n TORONTO\n \n ,\n \n Dec. 30, 2020\n \n /CNW/ - Wajax Corporation (\"\n \n Wajax\n \n \" or the \"\n \n Corporation\n \n \") today announced that it has entered into a definitive agreement (the \"\n \n Definitive Agreement\n \n \") to acquire all of the issued and outstanding shares of\n \n Calgary, Alberta\n \n -based Tundra Process Solutions Ltd. (\"\n \n Tundra\n \n \") for total consideration of\n \n $99.1 million\n \n . Pursuant to the terms of the Definitive Agreement, the purchase price for the Tundra shares will be satisfied by the payment in cash of\n \n $74.6 million\n \n and the issuance of 1,357,142 common shares of Wajax. The value of the Wajax common shares to be issued will be based on the twenty-day volume weighted average trading price of Wajax common shares on the Toronto Stock Exchange (the \"\n \n TSX\n \n \") for the period ending\n \n December 29, 2020\n \n . The transaction is expected to close early in the first quarter of 2021 and is subject to customary closing conditions, including the approval of the TSX and approval under the\n \n Competition Act\n \n (\n \n Canada\n \n ), as well as normal post-closing adjustments\n \n \n \n \n \n \n \n \n \n Founded in 1999, Tundra provides maintenance and technical services to customers in the western Canadian midstream oil and gas, oil sands, petrochemical, mining, forestry and municipal sectors. Tundra also distributes a diverse range of industrial process equipment, representing industry-leading manufacturers of valves and actuators, instrumentation and controls, motors and drives, control buildings, boilers and water treatment solutions. Employing approximately 150 people, Tundra operates four facilities in\n \n Alberta\n \n :\n \n Calgary\n \n ,\n \n Edmonton\n \n (2 locations) and\n \n Grande Prairie\n \n . Tundra also maintains a local sales presence in\n \n Fort McMurray\n \n and\n \n Red Deer, Albert...