March Networks (MN.TO: Quote) 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.
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by RTT Staff Writer
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