National Bank receives Competition Bureau clearance for deal to buy CWB

MONTREAL – Lightspeed Commerce Inc. says it is conducting a review of its business and operations including talks relating to a range of potential strategic alternatives.

The Montreal-based payments technology company made the comments after reports concerning a potential transaction involving the company.

Lightspeed says it periodically undertakes a review of its business and operations with a view of realizing its full potential.

A strategic review is often seen by investors as a prelude to a sale by a company.

Lightspeed says its board of directors is committed to acting in the best interests of the company and its stakeholders.

Company founder Dax Dasilva returned to the role of chief executive officer earlier this year and has been working to return the company to profitability.

This report by The Canadian Press was first published Sept. 26, 2024.

Companies in this story: (TSX:LSPD)

The Canadian Press. All rights reserved.

TORONTO – The sale of Sleep Country Canada Holdings Inc. to Fairfax Financial Holdings Ltd. has received final court approval.

The mattress retailer says the approval from the Ontario Superior Court of Justice comes after Sleep Country shareholders earlier this month voted 99.93 per cent in favour of the deal.

CEO Stewart Schaefer told investors after the vote he was pleased they approved the agreement, which he says will unlock shareholder value.

The $1.7-billion deal will see Fairfax acquire all issued and outstanding common shares of Sleep Country for $35 per share.

Sleep Country says the deal is expected to close on or about Oct. 1, subject to customary closing conditions.

Once the deal is completed, Sleep Country will apply to delist from the Toronto Stock Exchange.

This report by The Canadian Press was first published Sept. 26, 2024.

Companies in this story: (TSX:ZZZ)

The Canadian Press. All rights reserved.

HALIFAX – Chorus Aviation Inc. says its shareholders have voted to approve the sale of the company’s regional aircraft leasing business to HPS Investment Partners.

The Halifax-based company says the $1.9-billion deal was greenlighted by 98.1 per cent of votes cast by shareholders at a special meeting. The transaction needed approval by a two-thirds majority vote.

Chorus also says the waiting period mandated under U.S. legislation has expired and that it has received approval from Ireland’s Competition and Consumer Protection Commission.

Chorus announced the sale of its plane leasing business to New York City-based HPS in July for $814 million in cash and $1.1 billion in aircraft debt to be assumed or prepaid by the buyers at closing.

The deal marked a one-eighty for Chorus, which bet big on aircraft leasing just two years earlier by buying London-based plane-leasing outfit Falko Regional Aircraft Ltd.

Chorus, which also provides regional service for Air Canada via Chorus subsidiary Jazz Aviation, says the sale remains subject to the other regulatory approvals and customary conditions.

This report by The Canadian Press was first published Sept. 25, 2024.

Companies in this story: (TSX:CHR)

The Canadian Press. All rights reserved.