Newspaper article The Canadian Press

AGT Food Agrees to CEO-Led Go-Private Deal That Values It at about $436 Million

Newspaper article The Canadian Press

AGT Food Agrees to CEO-Led Go-Private Deal That Values It at about $436 Million

Article excerpt

AGT Food agrees to go-private proposal

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REGINA - AGT Food and Ingredients Inc. has agreed to be taken private by investors including CEO Murad Al-Katib in a deal that values the company at $436 million.

The Regina-based company says it has elected to proceed with the $18-per-share transaction proposed last July upon the recommendation of a special committee of independent directors and a fairness opinion from TD Securities.

In early trading on the Toronto Stock Exchange, AGT shares were up nearly 12 per cent or $1.86 at $17.70.

The buyers include Fairfax Financial Holdings Ltd. -- which partnered with AGT and several First Nations communities to buy the restored rail line and port at Churchill, Man., this fall -- and Point North Capital Inc. …

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