Acquisition Farmers Edge Inc. (FDGE-T) gained with the late Monday announcement of a go-private agreement with 15635594 Canada Inc., a newly-formed subsidiary of the majority shareholder Fairfax Financial Holdings Ltd.(FFH-T).
The Winnipeg-based agriculture technology provider said Fairfax will acquire all of the common shares at a purchase price of 35 cents each, payable in cash. The purchase price represents a 218-per-cent premium to both the Monday closing price and to the 20-day volume weighted average price
From November: Farmers Edge in go-private talks for tiny fraction of IPO price
The signing of the agreement followed the unanimous recommendation of the special committee of independent directors of the board.