Canso, Access Holdings to oppose Tuckamore take-private deal
Canso Investment Counsel Ltd has informed the board of directors of Tuckamore Capital Management that it will vote against the proposed take-private acquisition of the Toronto-based private equity firm. The deal, announced in May, would see Birch Hill Equity Partners and members of the firm's senior management team buy all of Tuckamore's shares for $0.75 per share, or an estimated $60 million. Canso, which owns or controls 14.6 percent of the common shares of Tuckamore, said the offer "significantly undervalues the company." Access Holdings Management Co has also issued a statement opposing the transaction, which will be voted on by shareholders in July.
24 June 2014•2 mins read
