C.A. Bancorp Inc. (BKP.TO: Quote) said it entered a support agreement enabling CDJ Global Catalyst LLC to acquire all outstanding common shares of the company for $3.20 per share in cash.
The agreement follows in the wake of CDJ sweetening the offer price to $3.20 per share from its prior offer of $3.15 per share.
In addition, C.A. Bancorp said that the consideration being offered to Shareholders under the transaction, represented a premium of nearly 9% to the closing price of the company’s shares on November 26, 2012.
Further, the offer which shall be open for a period not less than 35 days, is subject to more than 50% of the shares of C.A. Bancorp being validly deposited under the offer and not withdrawn and to other customary conditions.
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by RTT Staff Writer
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