On December 21, 2011, Dundee Corporation and Dundee Capital Markets Inc. announced that a court has approved an arrangement under which Dundee Corporation will acquire the remainder of Dundee Capital Markets at a price of $1.125 per share.
On December 21, 2011, Toronto-based Dundee Corporation and Dundee Capital Markets Inc. announced they have entered an agreement under which Dundee Corporation will acquire all of the outstanding common shares of Dundee Capital Markets it does not currently own. Under the terms of the agreement, Dundee Corporation will pay a price of $1.125 per share. In connection with the arrangement, which was approved by a court under the Business Corporations Act (Ontario), Dundee Corporation has entered a voting agreement with The Bank of Nova Scotia, the largest minority shareholder of Dundee Capital Markets, to vote in favor of the arrangement. The arrangement is subject to a shareholder vote, which is expected to take place on January 31, 2012. The arrangement is also subject to regulatory and third party approvals. Dundee Capital Markets is a listed Toronto-based investment manager focused on resources, real estate, and infrastructure. Dundee Corporation is a publicly traded Canadian asset management company.
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