An anonymous director reports
COASTAL.COM RECEIVES COMPETITION ACT CLEARANCE FOR ACQUISITION BY ESSILOR INTERNATIONAL
Coastal Contacts Inc. (Coastal.com) has received Competition Act clearance for the proposed statutory plan of arrangement under which
Essilor International (Compagnie Generale d'Optique) SA
will indirectly acquire all the issued and outstanding common shares
of Coastal.com for a purchase price of $12.45 per share. Obtaining this clearance is a closing condition
under the acquisition agreement governing the transaction.
The transaction was approved by Coastal.com's shareholders at an annual
general and special meeting held on April 16, 2014, and was approved by
the British Columbia Supreme Court on April 23, 2014. Subject to the
satisfaction or waiver of all remaining customary closing conditions,
the transaction is expected to close on or about April 28, 2014.
We seek Safe Harbor.
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