12:21 PM EST - The Forzani Group Ltd. : announced today that it has entered into a friendly transaction with Canadian Tire Corporation, Limited that will combine Forzani's premium sporting goods and apparel business with Canadian Tire's "everyday" selection of sporting goods in Canada. Under the terms of the transaction, Forzani shareholders will receive $26.50 in cash for each FGL Class "A" share pursuant to a take-over bid to be made by Canadian Tire, which is the equivalent of a 50% premium relative to the closing price of FGL Class "A" shares on the TSX on May 6. The Forzani Group Ltd.
shares FGL are trading up $8.63 at $26.24.
