May 9, 2008
Ridley launches strategic review process, controlling shareholder wants to sell
“Investors are cautioned that there can be no assurance that any transaction will be pursued, announced, entered into, or consummated by the company in connection with the strategic review process.”
- Ridley Inc. (TSX:RCL) said Tuesday that it launched a strategic review process after the firm's controlling shareholder, Ridley Corp. Ltd., said it wants to sell its 69 per cent stake in the firm.
The animal feed company said it has started to explore potential sale alternatives for Ridley Corp. Ltd. and other shareholders.
The company said it has hired CIBC World Markets Inc. as its financial adviser and Davies Ward Phillips & Vineberg LLP as its legal adviser.
"The strategic review process is at its initial stage and the company has not yet received any proposals or offers for the company, and no agreements, other than confidentiality agreements, have been entered into with any interested parties," the company said in a statement. Read more
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