Indigo Books & Music Inc. (IDG.TO) said that it has entered into an arrangement agreement with Trilogy Investments L.P. and Trilogy Retail Holdings Inc. whereby Trilogy will acquire all of the issued and outstanding common shares of the Company that Trilogy, its affiliates and joint actors do not currently own for C$2.50 in cash per share.
Trilogy, together with its affiliates and joint actors, currently owns an aggregate of 16.77 million common shares of the Company, representing approximately 60.6% of the issued and outstanding common shares as of the date hereof.
The purchase price of C$2.50 per share reflects a 69% premium to Indigo's closing price of C$1.48 per share on the Toronto Stock Exchange on February 1, 2024, being the last trading day prior to the public announcement of the Initial Proposal.
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