logo
Share SHARE
FONT-SIZE Plus   Neg

March Networks Gets Final Court Approval Of Arrangement With Infinova Canada

March Networks (MN.TO) announced that it has obtained a final order of the Ontario Superior Court of Justice approving the previously announced arrangement under the Canada Business Corporations Act pursuant to which Infinova (Canada) Ltd, an indirect wholly-owned Canadian subsidiary of Shenzhen Infinova Ltd., will acquire all of the issued and outstanding common shares of March Networks for C$5.00 per share in cash.

Assuming all remaining conditions under the arrangement agreement made as of December 8, 2011 among March Networks, Infinova Canada and Shenzhen Infinova are satisfied or waived (where permitted), the Arrangement is expected to become effective in late March or in April, 2012, the company said.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Social media app Snapchat has introduced a new location service, Snap Map, that will allow users of the app to see the location of all their friends on a map. The new feature will essentially allow a user to see where his friends are hanging out and what they are up to and also share his own location with friends in real time. The U.S. has suspended all imports of fresh beef from Brazil due to recurring concerns about the safety of the products. The suspension of shipments from Brazil, the fifth largest exporter of beef to the U.S., will remain in place until the Brazilian Ministry of Agriculture takes corrective action, the U.S. Department of Agriculture or USDA said in a statement. The annual Federal stress test was cleared by 34 top banks. The result shows strong capital levels and the ability of large banks to remain capitalized even in stressed situations. The Federal Reserve noted that these banks will be able to lend to households and businesses even at severe recession and throughout the economic cycle.
comments powered by Disqus
Follow RTT