Xceed Mortgage Acquired by MCAN

Toronto-based Xceed Mortgage Corp., a provider of residential mortgages, has agreed to be acquired by MCAN Mortgage Corp. Under the terms of the deal, MCAN will purchase 100% of the issued and outstanding shares of Xceed for $1.75 per share. The transaction has been estimated to value around C$53 million. One of Xceed's investors is Canadian private merchant bank Windsor Private Capital.

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