Indigo Books & Music (TSE:IDG) has released an update.
Institutional Shareholder Services and Glass Lewis, two major proxy advisory firms, have endorsed the proposed acquisition of Indigo Books & Music by Trilogy Investments L.P., recommending that shareholders vote in favor of the $2.50 per share cash arrangement. The offer implies a substantial 69% premium over the pre-announcement share price, offering shareholders immediate and certain value. Shareholders are scheduled to cast their votes at a special meeting set for May 27, 2024.
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