Ault Board advises shareholders to delay making any decision on Saputo offer.ETOBICOKE, Ontario--(BUSINESS WIRE)--May 22, 1997-- (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , ME AUL.) The Board of Directors of Ault Foods Ault Foods Limited was a Toronto-based dairy processor and Canada's largest dairy company acquiring other dairy companies across Canada. Ault sold off parts of their business in the mid-1990s; milk division (Sealtest Dairy and Silverwood Dairy) was sold to Agropur. Limited is advising all shareholders of the Company to delay making any decision in connection with an offer to purchase all Ault Foods common shares by an affiliate of Saputo Group. Inc. The Corporation will shortly be mailing a letter advising shareholders to delay making any decision on the offer. "Your Board of Directors is reviewing the offer," the Board's letter says, "The Board recommends that you do not tender your shares until directors and their advisors have had a chance to evaluate the fairness of the offer." Last week, Ault Foods and its Board of Directors retained CIBC Wood Gundy CIBC Wood Gundy was created in 1988 with the purchase of Wood Gundy Inc. by CIBC. CIBC Wood Gundy is a division of CIBC World Markets. Canadian Imperial Bank of Commerce Chief Executive Officer: Gerald T. McCaughey | FY 2006 Statistics: Net income: $2. Securities Inc. as its financial advisor to review the offer and seek other interested purchasers. "The Board's role is to ensure that all Ault shareholders get maximum value for their shares," the shareholder letter says. With annual sales of approximately $900 million from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the , Ault Foods is a leading Canadian food processing Food processing is the set of methods and techniques used to transform raw ingredients into food for consumption by humans or animals. The food processing industry utilises these processes. company. Its core business consists of cheese, table-spreads, international trade and licensing dairy technologies. Major brands include - Black Diamond, Schneider's, Lactantia, Cheestrings, Ficello, Balderson and Parkay. CONTACT: Ault Foods Limited Pamela Kempthorne, 416/620-3115 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion