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Stock Market & Financial Investment News

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December 4, 2012
17:03 EDTNDZNordion provides update on MAPLE arbitration costs
Nordion provided an update regarding the submissions of arbitration-related costs by Atomic Energy of Canada Limited associated with Nordion's arbitration with AECL over the cancelled MAPLE project. Nordion has received and is currently assessing the legal merits and financial implications of AECL's costs submissions. AECL submitted total arbitration-related costs of approximately $46M. The company expects to file a response to AECL's submission with the tribunal in early 2013. The tribunal is expected to schedule proceedings to hear both parties' arguments during the company's second fiscal quarter of 2013. Nordion expects a decision to be rendered regarding the allocation of arbitration-related costs thereafter. As the MAPLE arbitration decision of the tribunal favored AECL, Nordion may be responsible for a portion of AECL's costs which could be material.
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July 11, 2014
08:07 EDTNDZNordion announces termination of HSR waiting period for Sterigenics acquisition
Nordion announced that on July 10, the Federal Trade Commission terminated the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended with respect to Sterigenics’ proposed acquisition of Nordion and the Canadian Competition Bureau issued a no-action letter pursuant to the Competition Act. The receipt of a no-action letter confirms that the Commissioner of Competition does not intend to challenge the proposed acquisition. The termination of the HSR Act waiting period and the receipt of a no-action letter pursuant to the Competition Act satisfy closing conditions of the proposed acquisition. The transaction remains subject to certain closing conditions, including approval under the Investment Canada Act, and is expected to close in 2H14.

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