Canadian home furnishing retailer Leon's Furniture Ltd is buying smaller domestic rival The Brick Ltd in a deal worth about C$700 million ($698.85 million), including the value of warrants issued by The Brick, to deepen its retail footprint. As per the deal, Leon's will pay C$5.40 per Brick share, a 54 percent premium over Friday closing price of C$3.50. Based on 121.6 million shares outstanding, as per Thomson Reuters data, the equity value of The Brick deal will be C$656.6 million.Also, Brick shareholders can elect to receive 0.0054 convertible debentures for each share held, instead of cash.Besides stock, Leon's will acquire all of the outstanding common share purchase warrants of The Brick for C$4.40 per warrant, bringing the total value of the deal to about C$700 million.For each warrant, the holder can elect to receive 0.0044 convertible debentures per warrant instead of cash.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 1.14% or $-0.32/share to $27.85. In the past year, the shares have traded as low as $25.28 and as high as $30.66. On average, 843103 shares of TRI exchange hands on a given day and today's volume is recorded at 782758.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 1.13% or $-0.32/share to $27.89. In the past year, the shares have traded as low as $26.10 and as high as $30.25. On average, 860747 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 690760.
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