Savaria Closer to Acquire Span-America Medical Systems

Savaria Corporation (TSX:SIS) announced it expects to complete the acquisition of Span-America Medical Systems.
As quoted in the press release:

Following the successful completion of its tender offer to purchase all of the outstanding shares of common stock of Span-America at US$29.00 per share. The tender offer was effected by Savaria’s indirect wholly-owned subsidiary Savaria Inc.
The depositary under the Tender Offer has advised the Purchaser that, as of the expiration of the Tender Offer at 5:00 p.m. (EDT) on June 15, 2017, 2,406,035 Span-America Shares (excluding shares with respect to which notices of guaranteed delivery were delivered but which shares were not yet delivered) had been validly tendered and not validly withdrawn, representing approximately 87.03% of the outstanding Span-America Shares. As a result, all of the conditions to the Tender Offer have been satisfied, and the Tender Offer has not been extended.
All of the Span-America Shares that were validly tendered in the Tender Offer and not validly withdrawn have been accepted for purchase and will be promptly paid for by the Purchaser.

Click here to read the full press release.

Source: www.marketwired.com