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Loblaw Companies Ltd Acquires Shoppers Drug Mart Corporation For $12.4 Billion In Cash And Stock


Monday, 15 Jul 2013 06:00am EDT 

Loblaw Companies Limited and Shoppers Drug Mart Corporation announced a definitive agreement under which Loblaw will acquire all of the outstanding Shoppers Drug Mart common shares for $33.18 in cash plus 0.5965 Loblaw common shares per each Shoppers Drug Mart common share, on a fully pro rated basis. Using the Loblaw closing common share price on July 12, 2013, this amounts to $61.54 per Shoppers Drug Mart common share. This price represents a 29.4% premium to the 20-day VWAP of Shoppers Drug Mart common shares as of July 12, 2013. Loblaw and Shoppers Drug Mart anticipate that the transaction will be completed within six to seven months. 

Company Quote

54.2
0.05 +0.09%
4:00pm EDT