Cadillac Fairview Shareholders Approve Teachers Transaction.Business Editors TORONTO--(BUSINESS WIRE)--March 15, 2000 (TSE:CDF.) (NYSE NYSE See: New York Stock Exchange :CDF) Following its special meeting of shareholders, Cadillac Fairview Corporation announced today that the proposed plan of arrangement involving the Corporation, its shareholders and 1384183 Ontario Inc., a corporation wholly owned by Ontario Teachers' Pension Plan The Ontario Teachers' Pension Plan (OTPP), commonly referred to as Teachers', is the organization responsible for administering pensions for public school teachers of Ontario. The OTPP also invests the plan's pension fund. Board, was approved by over 99% of the shareholders that voted (and over 99% of its minority shareholders that voted). As a result, subject to the Corporation receiving the final order from the court approving the arrangement, all of the common shares of the Corporation will be exchanged with 1384183 Ontario Inc. for $34 cash per share. The hearing for the final court order is scheduled for March 16, 2000. The transaction is anticipated to close on or about March 17, 2000. Cadillac Fairview is one of the largest owners, managers and developers of commercial real estate in North America, focusing on high quality retail centres in Canada and the U.S., and office properties in major Canadian cities. It owns interests in or manages 102 properties amounting to approximately 51 million square feet in Canada and the United States The United States and Canada share a unique legal relationship. U.S. law looks northward with a mixture of optimism and cooperation, viewing Canada as an integral part of U.S. economic and environmental policy. , including some of Canada's landmark properties such as Toronto Eaton Centre The Toronto Eaton Centre is a large shopping mall and office complex in downtown Toronto, Ontario Canada, named after the now-defunct Eaton's department store chain. In terms of the number of visitors, the shopping mall is Toronto's top tourist attraction. and Toronto-Dominion Centre in Toronto, Pacific Centre in Vancouver and Montreal Eaton Centre in Montreal. Cadillac Fairview is a public company listed on The New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. and The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol CDF. |
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