Toronto, Ontario, Canada-based value-added metal processor and distributor Samuel Manu-Tech Inc (SMT) announced on September 9 that its shareholders passed a special resolution to approve the acquisition of SMT by Samuel, Son Acquisition Corporation (Subco), a wholly-owned subsidiary of Samuel, Son & Co. Limited (Samuel).
According to a SMT press release, pursuant to the transaction the holders of SMT common shares (other than Subco) will receive $7.50 per share and SMT, merged with Subco, will be a wholly-owned subsidiary of Samuel, with the common shares of SMT de-listing from the Toronto Stock Exchange.
The amalgamation has been consummated and the common shares of SMT will be de-listed from the TSX within the next few days.