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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. 

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0.05 +0.09%
4:00pm EDT