Prime Restaurants Inc. (T.EAT) hit a new 52-week high of $7.64 Monday. Prime Restaurants announced today that it has received an offer from Fairfax Financial Holdings Limited to acquire of all of the issued and outstanding class A limited voting shares and restricted share units ("RSUs") of the Company by way of a plan of arrangement under Section 182 of the Business Corporations Act (Ontario).
The Fairfax Offer was solicited by the Company during the "go-shop" period permitted under its agreement with Cara Operations Limited. The total consideration payable by Fairfax under the Fairfax Offer is approximately $71 million, equivalent to $7.75 per Share or RSU. Under the Fairfax Offer, holders of Shares would receive $7.50 per Share in cash directly from Fairfax on the effective date.
Claymore 1-10 Yr Laddered Corporate Bond ETF (T.CBH) hit a new 52-week high of $20.28 Monday. No news announcements today.
