TSX:CRW.UN - Post by User
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phoenix_traderon Sep 14, 2010 9:12am
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Vultures are circling - Cinram in Play
Vultures are circling - Cinram in PlayCinram International Income Fund (C-CRW) - News Release
Cinram International adopts unitholder rights plan
2010-09-14 09:03 ET - News Release
Shares issued 55,226,776
CRW.UN Close 2010-09-13 C$ 1.13
CINRAM INTERNATIONAL INCOME FUND ANNOUNCES ADOPTION OF UNITHOLDER RIGHTS PLAN
Cinram International Income Fund's board of trustees has adopted a unitholder rights plan. The purpose of the rights plan is to provide the board with sufficient time to respond to, and develop and implement alternatives in the event of an unsolicited bid for Cinram. The Board's actions are not related to any specific acquisition proposal. Cinram is unaware of any take-over bid activity currently underway or proposed. The rights plan is also not intended to, and would not, hinder full and fair offers for Cinram that are made to all unitholders; in particular, the rights plan contains a "permitted bid" exclusion that makes it inapplicable to a take-over bid made for all units that is open for acceptance for at least 60 days and otherwise complies with the rights plan's "permitted bid" requirements.The adoption of the rights plan is subject to acceptance by the TSX.