Smoothwater ups bid for Equity Financial acquisition
Canadian activist investor Smoothwater Capital Corp has increased the offer for its take-private acquisition of Equity Financial Holdings Inc (TSX: EQI), a Toronto-based provider of residential first mortgage loans through its affiliate, Equity Financial Trust Co. Smoothwater agreed to increase the purchase price to $10.25 per share from $9.75 per share. The change implies an equity value of close to $110 million. The deal, announced last month, will prior to closing see Smoothwater, an existing shareholder, joined by Hennick & Co, Freycinet Ventures and others as capital partners.
27 November 2017•3 mins read
