RE:RE:BuyoutHere is the NEWS regarding the Previous ATTEMPT by Amar Doman (Futura Corp) to take
Tree Island PRIVATE @ $2.25 per share__This FAILED and the OFFER was WithDrawn.
VANCOUVER, British Columbia, June 28, 2019 (GLOBE NEWSWIRE) -- Tree Island Steel Ltd. (the "Company" or "Tree Island Steel") (TSX:TSL) announces today that it has been advised of the intention of The Futura Corporation and Arbutus Distributors Ltd. (together, the "Offerors"), entities controlled by certain directors of the Company, to make an unsolicited non-binding proposal by way of a plan of arrangement to acquire all of the common shares of the Company not already owned by the Offerors for consideration consisting of $2.25 per share payable in cash, subject to a number of terms and conditions. A binding proposal has not yet been made to the Company or its shareholders.
The board of directors of the Company have met and appointed a special committee (the "Special Committee") of the board made up entirely of directors who are independent of both management and the Offerors. The Special Committee will be retaining a financial advisor to, among other things, provide an independent valuation and advise on an appropriate response to the Offerors' announcement. The Company will communicate further with its stakeholders in due course, including if and when a formal proposal is made by the Offerors.
Shareholders are reminded that there can be no assurance that a binding agreement would result or that a formal proposal will be made by the Offerors. In the meantime, it will be business as usual for the Company with respect to its operations.
lifeisgood1010 wrote: Hi CountryBoy69,when you say"He made a try a few years ago"
When was that?
I never heard such a news and did look for it without success.
Thanks