Visit our sister site:
Follow us on
Headline, Industry News
Alliance, CanWest update acquisition
Wednesday March 28th 2007TORONTO, Alliance Atlantis Communications Inc. and CanWest Global Communications Corp. announced today that they expect that the completion of the Arrangement pursuant to which AA Acquisition Corp. (formerly 6681859 Canada Inc.) ("Acquireco") would acquire all of the outstanding shares of Alliance Atlantis for $53.00 cash per share will occur in July 2007 or early August, 2007.
As previously announced on January 10, 2007, Alliance Atlantis entered into an Arrangement Agreement with Acquireco, a corporation wholly owned by CanWest MediaWorks Inc. ("CanWest"), providing for an Arrangement with Alliance Atlantis. A Special Meeting of shareholders of Alliance Atlantis has been called for April 5, 2007 at 10:00AM (EST) in Toronto, Ontario to consider a special resolution to approve the Arrangement pursuant to section 192 of the Canada Business Corporations Act. A Notice of Special Meeting and Management Proxy Circular (the "Circular") dated March 5, 2007 were mailed to shareholders of Alliance Atlantis and are available on SEDAR at www.sedar.com under Alliance Atlantis’ profile.
CanWest and Alliance Atlantis had anticipated that the preparation and audit of certain of the financial information required by Acquireco in connection with debt financings being undertaken in connection with the Arrangement could be completed in time for a May closing. However, the exercise is taking longer than initially expected and the required information will not be available in time to permit completion of the Arrangement in May 2007.
As a result, Alliance Atlantis will be required pursuant to the Arrangement Agreement to provide more current unaudited financial statements and other information in respect of the first fiscal quarters of 2007 and 2006 in connection with the Acquireco debt financings. This required financial information is expected to be available in late June thereby permitting a July or early August closing.
Given the parties’ expectation as to timing for completion of the Arrangement, Alliance Atlantis currently intends to seek relief from the requirement to hold its annual meeting of shareholders by end of June 2007 so as not to hold such meeting prior to the completion of the Arrangement.
Shareholders should carefully review the Circular which provides more detailed information regarding the Arrangement and how to vote their shares. Shareholders are encouraged to complete, sign, date and return the form of proxy accompanying the Circular so that their shares can be voted at the Special Meeting in accordance with their instructions.
Headline, Industry News
Alliance, CanWest update acquisition
Wednesday March 28th 2007TORONTO, Alliance Atlantis Communications Inc. and CanWest Global Communications Corp. announced today that they expect that the completion of the Arrangement pursuant to which AA Acquisition Corp. (formerly 6681859 Canada Inc.) ("Acquireco") would acquire all of the outstanding shares of Alliance Atlantis for $53.00 cash per share will occur in July 2007 or early August, 2007.
As previously announced on January 10, 2007, Alliance Atlantis entered into an Arrangement Agreement with Acquireco, a corporation wholly owned by CanWest MediaWorks Inc. ("CanWest"), providing for an Arrangement with Alliance Atlantis. A Special Meeting of shareholders of Alliance Atlantis has been called for April 5, 2007 at 10:00AM (EST) in Toronto, Ontario to consider a special resolution to approve the Arrangement pursuant to section 192 of the Canada Business Corporations Act. A Notice of Special Meeting and Management Proxy Circular (the "Circular") dated March 5, 2007 were mailed to shareholders of Alliance Atlantis and are available on SEDAR at www.sedar.com under Alliance Atlantis’ profile.
CanWest and Alliance Atlantis had anticipated that the preparation and audit of certain of the financial information required by Acquireco in connection with debt financings being undertaken in connection with the Arrangement could be completed in time for a May closing. However, the exercise is taking longer than initially expected and the required information will not be available in time to permit completion of the Arrangement in May 2007.
As a result, Alliance Atlantis will be required pursuant to the Arrangement Agreement to provide more current unaudited financial statements and other information in respect of the first fiscal quarters of 2007 and 2006 in connection with the Acquireco debt financings. This required financial information is expected to be available in late June thereby permitting a July or early August closing.
Given the parties’ expectation as to timing for completion of the Arrangement, Alliance Atlantis currently intends to seek relief from the requirement to hold its annual meeting of shareholders by end of June 2007 so as not to hold such meeting prior to the completion of the Arrangement.
Shareholders should carefully review the Circular which provides more detailed information regarding the Arrangement and how to vote their shares. Shareholders are encouraged to complete, sign, date and return the form of proxy accompanying the Circular so that their shares can be voted at the Special Meeting in accordance with their instructions.
Leave a Reply
Headline, Industry News
Alliance, CanWest update acquisition
Wednesday March 28th 2007TORONTO, Alliance Atlantis Communications Inc. and CanWest Global Communications Corp. announced today that they expect that the completion of the Arrangement pursuant to which AA Acquisition Corp. (formerly 6681859 Canada Inc.) ("Acquireco") would acquire all of the outstanding shares of Alliance Atlantis for $53.00 cash per share will occur in July 2007 or early August, 2007.
As previously announced on January 10, 2007, Alliance Atlantis entered into an Arrangement Agreement with Acquireco, a corporation wholly owned by CanWest MediaWorks Inc. ("CanWest"), providing for an Arrangement with Alliance Atlantis. A Special Meeting of shareholders of Alliance Atlantis has been called for April 5, 2007 at 10:00AM (EST) in Toronto, Ontario to consider a special resolution to approve the Arrangement pursuant to section 192 of the Canada Business Corporations Act. A Notice of Special Meeting and Management Proxy Circular (the "Circular") dated March 5, 2007 were mailed to shareholders of Alliance Atlantis and are available on SEDAR at www.sedar.com under Alliance Atlantis’ profile.
CanWest and Alliance Atlantis had anticipated that the preparation and audit of certain of the financial information required by Acquireco in connection with debt financings being undertaken in connection with the Arrangement could be completed in time for a May closing. However, the exercise is taking longer than initially expected and the required information will not be available in time to permit completion of the Arrangement in May 2007.
As a result, Alliance Atlantis will be required pursuant to the Arrangement Agreement to provide more current unaudited financial statements and other information in respect of the first fiscal quarters of 2007 and 2006 in connection with the Acquireco debt financings. This required financial information is expected to be available in late June thereby permitting a July or early August closing.
Given the parties’ expectation as to timing for completion of the Arrangement, Alliance Atlantis currently intends to seek relief from the requirement to hold its annual meeting of shareholders by end of June 2007 so as not to hold such meeting prior to the completion of the Arrangement.
Shareholders should carefully review the Circular which provides more detailed information regarding the Arrangement and how to vote their shares. Shareholders are encouraged to complete, sign, date and return the form of proxy accompanying the Circular so that their shares can be voted at the Special Meeting in accordance with their instructions.
Leave a Reply
Advertisements
