18:04:29 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Canada Bread Co Ltd
Symbol CBY
Shares Issued 25,416,812
Close 2014-04-02 C$ 72.28
Market Cap C$ 1,837,127,171
Recent Sedar Documents

Canada Bread holders approve acquisition by Grupo Bimbo

2014-04-03 16:38 ET - News Release

Mr. Nick Boland reports

CANADA BREAD SHAREHOLDERS APPROVE PLAN OF ARRANGEMENT

The previously announced plan of arrangement between a wholly owned subsidiary of Grupo Bimbo SAB de CV and Canada Bread Co. Ltd. was approved by the Canada Bread shareholders at a special meeting held today.

The arrangement was approved by Canada Bread shareholders holding approximately 99.98 per cent of the common shares voted at the shareholders meeting. Details of the voting results will be filed on SEDAR.

The arrangement will result in the sale of Canada Bread to Grupo Bimbo, which is expected to close in the second quarter of 2014, subject to completion of other closing conditions, including a final order of the Ontario Superior Court of Justice (Commercial List), which the company will be seeking on April 8, 2014, and approval under the Investment Canada Act. The transaction has previously received clearance under the Competition Act (Canada) and the Hart-Scott-Rodino Act (United States).

About Grupo Bimbo

Grupo Bimbo is one of the largest baking companies in the world in terms of production and sales volume. As the market leader in the Americas, Grupo Bimbo has 144 plants and more than 1,600 distribution centres strategically located in 19 countries throughout the Americas, Europe and Asia. Its main product lines include sliced bread, buns, cookies, snack cakes, English muffins, bagels, prepackaged foods, tortillas, salted snacks and confectionery products, among others. Grupo Bimbo produces over 10,000 products and has one of the most extensive direct distribution networks in the world, with more than 52,000 routes and more than 126,000 employees. Grupo Bimbo's shares have traded on the Mexican Stock Exchange since 1980 under the ticker symbol BIMBO.

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