Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news
LifeWorks Inc. (LWRK-T) announced that it has signed a deal to be acquired by Telus Corp. (T-T), valued at $2.9-billion including debt.
Under the agreement, LifeWorks shareholders will have the option to receive $33 in cash or 1.0642 Telus shares for each LifeWorks share held, subject to pro-ration.
The amount of cash and number of shares will be limited so that Telus will pay for half the deal in cash and half in shares, the company stated in a release.
LifeWorks, formerly known as Morneau Shepell, said it expects to continue to pay monthly dividends through to the closing of the proposed transaction.
LifeWorks shares closed at $18.20 on the Toronto Stock Exchange on Wednesday. Telus shares closed at $29.36.
The deal requires support by a two-thirds majority vote by LifeWorks shareholders as well as court and other regulatory approvals.
- with files from The Canadian Press
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Dye & Durham Ltd. (DND-T) announced that the Australian Competition and Consumer Commission (ACCC) has issued a release saying it has referred the transaction to a “more extensive and comprehensive Phase II review.”
The ACCC expects to make a final decision on Sept. 8, 2022, the company stated, adding that it’s “concerned about the statement that the ACCC has issued and is evaluating what impact it may have on the proposed transaction.”
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Andrew Peller Ltd. (ADW-A-T; ADW-B-T) reported sales of $78.8-million for its fourth quarter ended March 31, compared to $79.1-million a year ago. The expectation was for sales of $76.8-million, according to S&P Capital IQ.
Its net loss came in at $7-million or 17 cents per Class A share for the quarter, compared to a loss of $6.3-million or 15 cents a year ago.
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