Intertape Polymer Group approved for acquisition
by CM Staff
The parties to the arrangement intend to complete the arrangement on June 28, 2022, subject to the satisfaction of customary closing conditions.
MONTREAL — Intertape Polymer Group Inc. has received approval under the Investment Canada Act for the acquisition of the company by an affiliate of Clearlake Capital Group, L.P. for $40.50 per share by way of a plan of arrangement in accordance with Section 192 of the Canada Business Corporations Act.
The parties to the arrangement intend to complete the arrangement on June 28, 2022, subject to the satisfaction of customary closing conditions.
Pursuant to the terms of the agreement in respect of the arrangement, the quarterly dividend of US$0.17 per share announced on May 11, 2022 will be paid immediately prior to the closing of the arrangement on June 28, 2022, subject to the satisfaction of customary closing conditions, and the payment date of the dividend has been changed to such date. The dividend record date of June 15, 2022 remains unchanged.
