Quebecor Media Announces Mailing of Bid Circular in Connection With its Offer to Acquire Shares of Nurun Inc.
10 1월 2008 - 3:21AM
Marketwired
MONTREAL, QUEBEC not already owned by it and its affiliates at
Cdn$4.75 per share.
The offer price represents a premium of approximately 33% over
the volume weighted average trading price of Nurun's common shares
during the month of November 2007 on the TSX preceding and
including November 30, 2007 and a premium of approximately 12.8%
over the closing price of Nurun's common shares on December 4,
2007, the last trading day prior to the public announcement of
Quebecor Media's renewed intention to make the offer.
As previously announced, Quebecor Media has entered into lock-up
agreements with certain securityholders of Nurun holding in the
aggregate a majority of Nurun's common shares not already owned by
QMI and its affiliates under which such holders have irrevocably
and unconditionally agreed to tender their shares to an offer by
Quebecor Media to acquire all issued and outstanding common shares
of Nurun at a price of Cdn$4.75 per share in cash. This will allow
Quebecor Media to proceed with the privatization of Nurun through a
compulsory acquisition ("squeeze-out") transaction in the event not
less than 90% of the shares subject to the offer are tendered, or a
subsequent acquisition transaction in the event less than 90% of
the shares subject to the offer are tendered, the whole as
described in the offer documentation.
The offer is open for acceptance until 8:00 p.m. (Montreal time)
on February 19, 2008 and contains certain conditions that are
customary to transactions of this nature, including the valid
tender, and non-withdrawal, of at least a majority of Nurun's
common shares not already owned by it and its affiliates.
Shareholders may obtain a copy of the take-over bid circular and
other materials (when available) on the SEDAR web site at
www.sedar.com.
The Company
Quebecor Media Inc., a subsidiary of Quebecor Inc., owns
operating companies in numerous media-related businesses: Videotron
Ltd., the largest cable operator in Quebec and a major Internet
Service Provider and provider of telephone and business
telecommunications services; Sun Media Corporation, Canada's
largest national chain of tabloids and community newspapers; TVA
Group Inc., operator of the largest French-language
general-interest television network in Quebec, a number of
specialty channels, and the English-language general-interest
station Sun TV; Canoe Inc., operator of a network of English- and
French-language Internet properties in Canada; Nurun Inc., a major
interactive technologies and communications agency with offices in
Canada, the United States, Europe and Asia; companies engaged in
book publishing and magazine publishing; and companies engaged in
the production, distribution and retailing of cultural products,
namely Archambault Group Inc., the largest chain of music stores in
eastern Canada, TVA Films, and Le SuperClub Videotron ltee, a chain
of video and video game rental and retail stores.
Contacts: Quebecor Inc. Luc Lavoie Executive Vice President
514-380-1974 Portable: 514-947-6672 lavoie.luc@quebecor.com
Quebecor (TSX:QBR.A)
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