CALGARY, AB, Oct. 3, 2016 (Marketwired) -Canexus Corporation (CUS.TO) ("Canexus" or the "Corporation") notes an announcement by Chemtrade Logistics Income Fund ("Chemtrade") that it intends to make an unsolicited offer on October 4, 2016, to acquire all of the outstanding shares of Canexus for $1.50 per share in cash.
The Canexus board of directors will consider and evaluate Chemtrade's offer when received and will respond in due course. The Canexus board of directors recommends that shareholders take no action until shareholders have received further communications from the Canexus board of directors.
Canexus has retained CIBC Capital Markets, The Valence Group, Stikeman Elliott LLP, Longview Communications Inc. and Kingsdale Shareholder Services as its strategic advisors.
Shareholders with questions are encouraged to call Canexus' information agent and strategic shareholder services advisor, Kingsdale Shareholder Services at 1-866-581-0507 or firstname.lastname@example.org.
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. More information about Canexus is available at www.canexus.ca.