Tricon Residential Inc. Announces Receipt of Investment Canada Act Approval for Take Private by Blackstone Real Estate
25 4월 2024 - 9:01PM
Business Wire
Tricon Residential Inc. (NYSE: TCN, TSX: TCN) (“Tricon” or the
“Company”) today announced receipt of Investment Canada Act
approval in connection with the previously announced statutory plan
of arrangement under the Business Corporations Act (Ontario) (the
“Arrangement”) pursuant to which Blackstone Real Estate Partners X,
together with Blackstone Real Estate Income Trust, Inc., will
acquire all of the outstanding common shares of Tricon (“Common
Shares”) for US$11.25 per Common Share in cash (the
“Transaction”).
The Transaction previously received clearance under the
Competition Act (Canada) and shareholder approval, and the parties
have received a final order from the Ontario Superior Court of
Justice (Commercial List) approving the Arrangement. No further
regulatory or shareholder approvals are required in connection with
the Transaction. Subject to the satisfaction or waiver of certain
customary closing conditions, the Transaction is expected to be
completed on or around May 1, 2024. Following completion of the
Transaction, it is anticipated that the Common Shares will be
delisted from the New York Stock Exchange and the Toronto Stock
Exchange and that the Company will apply to cease to be a reporting
issuer under applicable Canadian securities laws and will
deregister the Common Shares under the U.S. Securities Exchange Act
of 1934, as amended (the “U.S. Exchange Act”).
Enclosed with the management information circular of the Company
dated February 15, 2024 (the “Circular”) was a letter of
transmittal explaining how registered shareholders of the Company
can submit their Common Shares in order to receive the
consideration to which they are entitled in connection with the
Transaction. Registered shareholders who have questions on how to
complete the letter of transmittal should direct their questions to
the Company’s transfer agent and depositary, TSX Trust, at
1-866-600-5869 (toll- free within North America) or at 416-342-1091
(outside of North America) or by email at txstis@tmx.com.
Beneficial shareholders holding Common Shares that are registered
in the name of an intermediary must contact their broker or other
intermediary to submit their instructions with respect to the
Arrangement and to arrange for the surrender of their Common Shares
in order to receive the consideration to which they are entitled in
connection with the Transaction.
About Tricon Residential Inc.
Tricon Residential Inc. (NYSE: TCN, TSX: TCN) is an owner,
operator and developer of a growing portfolio of approximately
38,000 single-family rental homes in the U.S. Sun Belt and
multi-family apartments in Toronto, Canada. Our commitment to
enriching the lives of our employees, residents and local
communities underpins Tricon’s culture and business philosophy. We
provide high-quality rental housing options for families across the
United States and in Toronto, Canada through our technology-enabled
operating platform and dedicated on-the- ground operating teams.
Our development programs are also delivering thousands of new
rental homes and apartments as part of our commitment to help solve
the housing supply shortage. At Tricon, we imagine a world where
housing unlocks life’s potential. For more information, visit
www.triconresidential.com.
Forward-Looking
Information
Certain statements contained in this news release may constitute
forward-looking information within the meaning of applicable
Canadian securities laws. Forward-looking information is often, but
not always, identified by the use of words such as "anticipate",
"plan", "expect", "may", "will", "intend", "should", and similar
expressions. This information involves known and unknown risks,
uncertainties and other factors that may cause actual results or
events to differ materially from those anticipated in such
forward-looking information. Forward-looking information in this
news release includes, but is not limited to, the following:
statements with respect to the expected completion of the
Transaction and the timing thereof, the satisfaction of the
conditions to the closing of the Transaction, the delisting of the
Common Shares from the New York Stock Exchange and the Toronto
Stock Exchange, the Company’s application to cease to be a
reporting issuer under applicable Canadian securities laws and the
Company’s deregistration of the Common Shares under the U.S.
Exchange Act.
Such forward-looking information and statements involve risks
and uncertainties and are based on management’s current
expectations, intentions and assumptions, including expectations
and assumptions concerning the satisfaction of other conditions to
the completion of the Transaction. There can be no assurance that
the proposed Transaction will be completed, or that it will be
completed on the terms and conditions contemplated. Accordingly,
although the Company believes that the expectations and assumptions
on which the forward-looking information contained in this news
release is based are reasonable, undue reliance should not be
placed on the forward-looking information because Tricon can give
no assurance that it will prove to be correct. Since
forward-looking information addresses future events and conditions,
by its very nature it involves inherent risks and uncertainties.
Actual results could differ materially from those currently
anticipated due to a number of factors and risks. These include,
but are not limited to: the failure to satisfy (or obtain a waiver
of) the conditions to closing the Transaction; the occurrence of
any event, change or other circumstance that could give rise to the
termination of the Transaction; material adverse changes in the
business or affairs of Tricon; either party’s failure to consummate
the Transaction when required or on the terms as originally
negotiated; risks related to the disruption of management time from
ongoing business operations due to the Transaction and possible
difficulties in maintaining customer, supplier, key personnel and
other strategic relationships; potential litigation relating to the
Transaction, including the effects of any outcomes related thereto;
the possibility of unexpected costs and liabilities related to the
Transaction; competitive factors in the industries in which Tricon
operates; interest rates, currency exchange rates, prevailing
economic conditions; and other factors, many of which are beyond
the control of Tricon. Additional factors and risks which may
affect Tricon, its business and the achievement of the
forward-looking statements contained herein are described in the
“Risk Factors” section of the Circular as well as Tricon’s annual
information form and Tricon’s management’s and discussion and
analysis for the year ended December 31, 2023, and in the other
subsequent reports filed on the SEDAR+ profile of Tricon at
www.sedarplus.ca and Tricon’s filings with the SEC, including the
Schedule 13E-3, which includes the Circular, on www.sec.gov. The
forward-looking information contained in this news release
represents Tricon’s expectations as of the date hereof, and is
subject to change after such date. Tricon disclaims any intention
or obligation to update or revise any forward-looking information
whether as a result of new information, future events or otherwise,
except as required under applicable securities laws.
1383-1657-7803
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version on businesswire.com: https://www.businesswire.com/news/home/20240425176194/en/
For further information, please contact: Wissam Francis
EVP & Chief Financial Officer Email: IR@triconresidential.com
Wojtek Nowak Managing Director, Capital Markets Tricon Media
Contact: Tara Tucker Senior Vice President, Corporate and
Public Affairs Email: mediarelations@triconresidential.com
Tricon Residential (NYSE:TCN)
과거 데이터 주식 차트
부터 11월(11) 2024 으로 12월(12) 2024
Tricon Residential (NYSE:TCN)
과거 데이터 주식 차트
부터 12월(12) 2023 으로 12월(12) 2024