{"id":39349,"date":"2009-11-10T09:13:17","date_gmt":"2009-11-10T14:13:17","guid":{"rendered":"http:\/\/www.pehub.com\/?p=55212"},"modified":"2009-11-10T09:13:17","modified_gmt":"2009-11-10T14:13:17","slug":"mill-road-capital-buying-cossette","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/39349","title":{"rendered":"Mill Road Capital Buying Cossette"},"content":{"rendered":"

TORONTO (Reuters) – Cossette Inc (KOS.TO), Canada’s largest homegrown advertising agency, said on Tuesday it will sell itself to private eqyity firm Mill Road Capital, spurning a lower bid from Cosmos Capital.<\/p>\n

Mill Road will acquire all of Cossette’s issued and outstanding subordinate voting shares for C$7.87 a share in cash.<\/p>\n

Based on about 12.4 million shares outstanding, the deal is likely to be worth about C$97.6 million ($92.2 million). The Mill Road offer is not conditional on financing or due diligence.<\/p>\n

Last month, Cossette urged shareholders not to tender shares toward a sweetened bid from North American private equity group Cosmos Capital worth C$5.25 a share, or about C$88 million. [ID:nN29102296]<\/p>\n

The advertising agency’s clients include McDonald’s Restaurants of Canada, Bell Canada, General Motors of Canada and Coca-Cola.<\/p>\n

Cossette’s board unanimously approved the Mill Road offer and has agreed not to actively solicit competing acquisition proposals. However, the board retains the ability to consider any competing acquisition proposal. ($1= $1.058 Canadian) (Reporting by Euan Rocha; Editing by Derek Caney)<\/p>\n

ShareThis<\/a><\/p>\n

<\/img><\/a>
\n<\/img><\/a><\/p>\n

\n<\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a>\n<\/div>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

TORONTO (Reuters) – Cossette Inc (KOS.TO), Canada’s largest homegrown advertising agency, said on Tuesday it will sell itself to private eqyity firm Mill Road Capital, spurning a lower bid from Cosmos Capital. Mill Road will acquire all of Cossette’s issued and outstanding subordinate voting shares for C$7.87 a share in cash. Based on about 12.4 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-39349","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/39349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=39349"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/39349\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=39349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=39349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=39349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}