BIOX completes plan of arrangement
On July 5, 2017, BIOX Corporation ("BIOX") announced that it entered into a definitive agreement in connection with the previously announced proposed acquisition by CFFI Ventures Inc. and FP Resources Limited (collectively, the "Acquiror Group") of all of the outstanding common shares of BIOX not already owned by the Acquiror Group. Pursuant to the arrangement agreement, the shares would be acquired for cash consideration of C$1.23 per share through a court approved plan of arrangement under the Canada Business Corporations Act.
BIOX formed a special committee, comprised of independent directors to review and negotiate the proposed transaction, which unanimously recommended the transaction.
The completion of the transaction was announced on September 26, 2017.
BIOX is a renewable energy company that, owns and operates 287.5 million litres of nameplate biodiesel production capacity at plants located in Houston, Texas and two facilities in southern Ontario.
Further information can be found on Canada Newswire's website.