GFO (which has been an unsuccessful Connor, Clark mutual fund focused on international financial institution equities) will be merged into AUI under the s. 132.2 merger procedures after GFO unitholders, who wish to realize a capital loss, have been given an opportunity to redeem their GFO units. There will be no change to the Australian bank-equity focus of AUI.
BCE will acquire GLENTEL under a CBCA Plan of Arrangement for cash or shares, at the GLENTEL shareholder's option, but with the overall consideration fixed at $295.4 million cash and BCE shares equal to 0.4974 of a BCE common share multiplied by 50% of the outstanding GLENTEL common shares. Both a s. 85.1 rollover (for those receiving only shares) and a s. 85 rollover (for those receiving a mixture) is available.
Proposed Quebec plan of arrangement under which holders of shares of TSX-listed 20-20 (valued at $75 million), other than Mignault Holding Inc. ("Mignault"), would receive $4 per share in cash (for an estimated 28% premium). Vector Capital Corporation is a private equity firm.
Provision for break fee of $3 million on specified 20-20 termination. Vector is to pay $4.5 million to 20-20 if there is a specified financing failure.
