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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 Nordionís shareholders of record at the Companyís 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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