Ault Foods Limited Retains CIBC Wood Gundy as Financial Advisor, and Seeks to Maximize Shareholder Value.ETOBICOKE, ONTARIO--(BUSINESS WIRE)--May 13, 1997--(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , ME AUL.) 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 today announced that its Board of Directors has 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. as its financial advisor to investigate all options that will maximize shareholder value. The action by the Board at a meeting held Monday was in response to an announcement by Saputo Group Inc., last Friday that it intends to make an unsolicited bid of $28 per Ault common share. "The Board has asked CIBC Wood Gundy to explore the full range of options for maximizing shareholder value," said Graham Freeman, President and Chief Executive Officer. "This may include the sale of some or all of the Company's assets in one or more transactions, or encouraging a third party to make an offer at a higher price for all of its outstanding common shares." The Board will review the findings of CIBC Wood Gundy and determine an appropriate course of action. 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 Graham Freeman, 416/620-3000 |
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