Cerberus raises takeover offer for Dorel Industries to $16 per share
by The Canadian Press
Last Updated Feb 1, 2021 at 11:58 am EDT
OTTAWA The group looking to take Dorel Industries Inc. private has raised its takeover offer by 10 per cent.
The company says the buyer group led by Cerberus Capital Management LP is now offering $16 per share for the shares not held by members of the Schwartz family, including Dorel’s chief executive officer. The firm had earlier offered $14.50 per share.
Dorel will hold a special meeting of shareholders on Feb. 16 to vote on the proposed deal.
Investment firm Letko, Brosseau and Associates Inc., which controls 12.5 per cent of Dorel’s class B subordinate shares, said last week that the offer undervalues the company and that it planned to vote against the plan.
Cerberus raises takeover offer for Dorel Industries to $16 per share - Medicine Hat NewsMedicine Hat News medicinehatnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from medicinehatnews.com Daily Mail and Mail on Sunday newspapers.
Letko Brosseau Intends to Vote AGAINST Proposal to Take Dorel Industries Private
News provided by
Share this article
Share this article
MONTREAL, Jan. 29, 2021 /PRNewswire/ - Letko, Brosseau & Associates Inc., an independent investment manager that exercises investment control or direction over approximately 12.5% of the outstanding class B subordinate shares of Dorel Industries Inc. ( Dorel or the Company ), today
reaffirmed its intention to vote AGAINST the proposed going private transaction of Dorel by Cerberus Capital Management, L.P. ( Cerberus ) and the controlling shareholders of the Company (Martin Schwartz, Jeffrey Schwartz, Alan Schwartz and Jeff Segel or the Family Shareholders ). The Family Shareholders, through their ownership of Dorel Class A and Class B shares, control approximately 20.3% of Dorel s outstanding shares on an economic basis and 60.8% on a voting basis.
Houston s tallest building towers with sleek updates and new name
Houston s tallest building towers with sleek updates and new name The tower formerly known as 600 Travis is readying for big changes.
Rendering courtesy of Hines Texas’ tallest tower, which stands boldly in downtown Houston, is for makeover and name change. Global real estate powerhouse, Hines, announced that 600 Travis Street will now be known as
JPMorgan Chase & Co. Tower. The naming comes as JP Morgan Chase takes over as the building’s anchor tenant, according to a press release. Downtown regulars may recall that the structure was called JP Morgan Chase Tower until 2006.
Cerberus launches $255-million IPO for ABC, Toronto s rag-to-riches auto parts supplier theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.