2023-10-16 10:43:50 ET
Logistec (LGT.A:CA) (LGT.B:CA) has agreed to a nearly $1.2 billion takeover by an entity related to Blue Wolf Capital Partners, the company said on Monday.
The company will be acquired for $67.00 in cash per share, following which it will cease to be a publicly listed in Canada.
The deal includes a termination fee of $32 million payable by the company and a reverse termination fee of $59 million if the transaction is not completed due to certain circumstances.
Blue Wolf will maintain Logistec's headquarters in Québec and will also invest over $200 million in capital expenditures, among other things, as part of the transaction.
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Logistec to go private in $1.2B deal with Blue Wolf