RE:Up 15% in three days on decent volumes? What is that about? I think that I can answer my own question.
11:16 AM EDT, 09/28/2018 (MT Newswires) -- Torstar Corporation (TS-B.TO) has received approval from the members of its eight registered defined benefit pension plans to proceed with the merger of the Torstar Plans with the Colleges of Applied Arts & Technology Pension Plan (the CAAT Plan) effective October 1st, 2018, with Torstar and certain of its subsidiaries becoming participating employers under the CAAT Plan. The merger remains subject to the consent of the Superintendent of Financial Services (Ontario), which is not expected to occur prior to the second half of 2019.
Following the consent of the Superintendent of Financial Services (Ontario), the liabilities for all past benefits under the Torstar Plans will be transferred to the CAAT Plan together with the assets of the Torstar Plans, and the CAAT Plan will assume responsibility for all pension benefit payments to members of the Torstar Plans going forward. No additional cash funding related to the transferred liabilities is expected to be required from Torstar in connection with the merger. Beginning October 1st, 2018, members of the Torstar Plans will begin accruing benefits under the new DBplus provisions of the CAAT Plan.