Madison Dearborn looks poised to buy IPL Plastics after the Irish-Canadian manufacturer’s shareholders backed a €356 million sale to the US investor. IPL confirmed on Monday that holders of 99.95 per cent of its shares voted to accept Madison’s Can$555 million (€356 million) offer for the company. IPL said it would apply to the superior court of Quebec on September 29th, one of the final stages in getting the deal approved. Chicago-based Madison Dearborn agreed to pay Can$10 per share for IPL in July. Once called One51, the company offered its shares for Can$13.50 when it first floated on the Toronto Stock Exchange in June 2018, raising €120 million.

Source: The Irish Times September 28, 2020 18:54 UTC