Under the proposal, the buyers group, which includes the Schwartz family that founded the company in the 1960's, will pay $14.50 per share for any shares they do not already hold. That values the company about where it was on Friday, when it closed at $14.39 a share. But that comes after a long run since March, when the company bottomed out below $1.50 a share during the depths of COVID-19. The Schwartz family currently owns about 6 million shares or 20 per cent of the company, but they control 60 per cent of the company's votes. (Francois Roy/Canadian Press)The deal is seeking to buy all outstanding shares of the company that they do not already own.

Source: CBC News November 02, 2020 14:35 UTC