The Forzani Group Ltd. to be Acquired by Canadian Tire Corporation, Limited for $26.50 Per Share in Cash
05-09-2011 | 06:35
CALGARY, ALBERTA--(Marketwire - May 9, 2011) - The Forzani Group Ltd. (TSX:FGL) ("FGL", "Forzani" or the "Company") announced today that it has entered into a friendly transaction with Canadian Tire Corporation, Limited (TSX: CTC, CTC.CA)("Canadian Tire") that will combine Forzani's premium sporting goods and apparel business with Canadian Tire's "everyday" selection of sporting goods in Canada. Under the terms of the transaction, Forzani shareholders will receive $26.50 in cash for each FGL Class "A" share pursuant to a take-over bid to be made by Canadian Tire (the "Offer"), which is the equivalent of a 50% premium relative to the closing price of FGL Class "A" shares on the TSX on May 6, 2011.
FOR FURTHER INFORMATION PLEASE CONTACT:
Forzani Group Ltd. - Media:
David Ryan Longview Communications Inc. (416) 649-8007
(416) 649-8007
Forzani Group Ltd. - Investors:
Michael Lambert, CA Chief Financial Officer (403) 717-1666
(403) 717-1666
Forzani Group Ltd. - Investors:
Evan Johnston Vice-President and General Counsel (403) 717-1453
(403) 717-1453
http://www.forzanigroup.com/InvestorRelations.aspx?selected=pressReleases
Source: The Forzani Group Ltd./Le Groupe Forzani Ltee