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Canexus and Chemtrade discuss possible plan of arrangement over Canexus takeover

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Canexus and Chemtrade discuss possible plan of arrangement over Canexus takeover

December 14, 2016 - 03:01
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CALGARY, AB, Dec. 13, 2016 (Marketwired) -Canexus Corporation (“Canexus” or the “Corporation”) has been required by the Investment Industry Regulatory Organization of Canada (IIROC) to comment on the recent unusual trading activity in the Corporation’s shares.

Canexus and Chemtrade Logistics Income Fund (“Chemtrade”) are in discussions regarding a possible plan of arrangement under which an indirect wholly-owned subsidiary of Chemtrade would purchase all of the issued and outstanding common shares of Canexus (the “Common Shares”) for cash consideration of $1.65 per Common Share.

Canexus cautions that there can be no assurance that a transaction will result from these discussions. Any transaction that could result from these discussions would be subject to regulatory and shareholder approvals.

About Canexus

Canexus produces sodium chlorate and chlor-alkali products largely for the pulp and paper and water treatment industries. Our four plants in Canada and two at one site in Brazil are reliable, low-cost, strategically located facilities that capitalize on competitive electricity costs and transportation infrastructure to minimize production and delivery costs. Canexus targets opportunities to maximize shareholder returns and delivers high-quality products to its customers and is committed to Responsible Care® through safe operating practices. Canexus' common shares (CUS) and debentures (Series IV -CUS.DB.B; Series V - CUS.DB.C; Series VI - CUS.DB.D) trade on the Toronto Stock Exchange.