Vote Set for Shareholders on Potential Indigo Private Sale

51
Will Indigo go private? Shareholders set to vote on sale offer



“**Will Indigo Shareholders Accept the Sweetened Offer?**

**Indigo Books & Music Inc. shareholders are gearing up for a crucial vote on Monday morning. The decision at hand? Whether to accept a sweetened offer from a holding company aiming to take the renowned bookstore chain private.**

**The Offer & Stakeholder Approval**

**The offer of $2.50 per share comes from Trilogy Retail Holdings Inc. and Trilogy Investments L.P., both owned by Gerald Schwartz, the spouse of Indigo’s chief executive Heather Reisman. Initially proposed at $2.25 per share, the bid was increased in April. However, for the offer to go through, it necessitates the approval of a two-thirds majority vote from Indigo shareholders and a simple majority vote from those not connected to Trilogy and its affiliates.**

**Implications of Acceptance**

**Already backed by a special committee of independent directors and receiving a nod from the Ontario Superior Court of Justice, the offer seems poised for acceptance. If shareholders do agree, Indigo expects the transaction to finalize in June, with subsequent delisting from the Toronto Stock Exchange. With Schwartz as the primary shareholder, owning 56 percent of the company’s shares, alongside Reisman’s 4.6 percent stake through a separate entity, the fate of Indigo hangs in the balance.**

**A Compelling Decision**

**As stakeholders prepare to cast their votes, the future of Indigo lies in the balance. Accepting the offer would signify a significant shift for the company, potentially altering its trajectory and operational dynamics. On the other hand, rejection could lead to uncertainty and speculation among investors and industry insiders.**

**In a world where strategic decisions often shape corporate destinies, the choice facing Indigo shareholders transcends mere voting but delves into the heart of the company’s identity and future path. Stay tuned for the outcome that could revolutionize the book retail landscape as we know it.”**



Reference

LEAVE A REPLY

Please enter your comment!
Please enter your name here