Ms. Holly Gibney reports
COURT APPROVAL GRANTED FOR ACQUISITION OF VITERRA BY GLENCORE
Viterra Inc. has been granted court approval for the plan of arrangement pursuant to which a wholly owned subsidiary of Glencore International PLC will acquire all the issued and outstanding shares of Viterra for $16.25 per share in cash. The Ontario Superior Court of Justice issued a final order approving the arrangement under the Canada Business Corporations Act on May 31.
Viterra shareholders previously voted to approve the arrangement at Viterra's special meeting of shareholders held on May 29, 2012.
Viterra expects the transaction to close by the end of July, 2012, although this date is not certain and may change. The closing of the transaction is subject to the satisfaction or waiver of all conditions that are applicable to the arrangement, including the granting of approvals or clearances under the Investment Canada Act.
We seek Safe Harbor.
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