Maxi-Cosi manufacturer sentenced in Luxembourg tax case delano.lu - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from delano.lu Daily Mail and Mail on Sunday newspapers.
Article content
(Bloomberg) Cerberus Capital Management LP and the founding family of Dorel Industries Inc. terminated their bid to take private the Canadian toy and bicycle maker after it failed to win enough support from shareholders.
Dorel said Monday the buyers pulled the plug on the C$453 million ($357 million) deal after examining the proxy votes that came in by Friday’s deadline. A shareholder meeting had been scheduled for Tuesday morning on the C$16-a-share bid.
We apologize, but this video has failed to load.
Try refreshing your browser, or Cerberus Fails in Bid for Canadian Toymaker as Investors Say No Back to video
Cerberus fails in bid for Dorel as investors balk
Kevin Orland, Bloomberg News VIDEO SIGN OUT
Cerberus Capital Management LP and the founding family of Dorel Industries Inc. terminated their bid to take private the Canadian toy and bicycle maker after it failed to win enough support from shareholders.
Dorel said Monday the buyers pulled the plug on the $453 million (US$357 million) deal after examining the proxy votes that came in by Fridayâs deadline. A shareholder meeting had been scheduled for Tuesday morning on the $16-a-share bid.
Dorel fell 5.9 per cent to $14.85 as of 9:33 a.m. Tuesday morning in Toronto. Canadian markets were closed on Monday for a holiday.