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Stock Market & Financial Investment News

News Breaks
June 11, 2014
10:49 EDTNDZNordion receives final court approval for acquisition by Sterigenics
Nordion announced that the Ontario Superior Court of Justice has issued a final order approving the previously announced plan of arrangement providing for the proposed acquisition by Sterigenics of all the issued and outstanding common shares of Nordion for cash consideration of $13.00 per share. The Arrangement was approved by Nordion’s shareholders of record at the Company’s Annual and Special Meeting held on Friday, June 6. The transaction remains subject to certain closing conditions, including all regulatory approvals, such as under competition/antitrust laws and the Investment Canada Act, and the coming into force of certain amendments to the Nordion and Theratronics Divestiture Authorization Act, as more fully described in the Management Information Circular dated April 22 as supplemented May 8 and June 2. In addition, the transaction is effectively conditional upon Nordion having at closing $300M of available cash on hand to complete the steps of the transaction. The transaction is not subject to any financing condition and is expected to close in the second half of calendar 2014.
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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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