March 16, 2009 / 2:26 PM / 9 years ago

UPDATE 1-MediSolution to go private in C$19 mln deal

* Deal valued at about C$19 mln

* MediSolution board unanimously approved deal

* MediSolution shares up 51 pct

March 16 (Reuters) - Information technology company MediSolution Ltd MSH.TO agreed to be taken private by its controlling stakeholder, Brookfield Asset Management Inc (BAMa.TO)(BAM.N), in an all-cash deal worth about C$19 million ($14.97 million).

Brookfield will acquire all outstanding shares of MediSolution that it does not already own for 30 Canadian cents a share, representing a premium of about 54 percent over MediSolution’s closing price on Friday.

The companies said the deal would be effected through an amalgamation of MediSolution and a newly incorporated company wholly-owned by Brookfield.

    Each MediSolution shareholder, other than Brookfield and its affiliates, will receive one redeemable preferred share of the amalgamated company for each share held immediately prior to the amalgamation.

    Shares of MediSolution were up more than 51 percent at 30 Canadian cents, while Brookfield shares were up 2 percent at C$17.85, in morning trade on the Toronto Stock Exchange. ($1=1.269 Canadian Dollar) (Reporting by Isheeta Sanghi in Bangalore; Editing by Himani Sarkar)

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