Cossette receives unsolicited and non-binding proposal and announces resignation of Mr. Georges E. Morin
Cossette Inc. ("Cossette" or the "Company") announced today that it received an unsolicited and non-binding proposal from Cosmos Capital Inc. to acquire all outstanding subordinate voting shares of the Company at a price of $4.95 per share. This proposal includes the subordinate voting shares resulting from the conversion of all multiple voting shares other than those held by members of the Cosmos Capital Inc. and their affiliates. Cosmos Capital Inc. is a company controlled by Mr. Francois Duffar, a former director and officer of Cossette. Mr. Georges E. Morin, another former director and officer of Cossette, is also part of the group of investors of Cosmos Capital Inc. As of today, the multiple voting shares of Cossette are held by Messrs. Claude Lessard, Pierre Delagrave, Francois Duffar and Georges E. Morin.
- Published: 20 July 2009
- Written by Editor