Fairfax acquires Sleep Country
Torys acted as counsel to Fairfax with a team that included David Chaikof, Janan Paskaran, Daniel Masliyah, Sarah Horsfall and Shree Gandhi (corporate/M&A), Omar Wakil and Ian Li (competition), John Tobin and Benjamin Mann (tax), Jennifer Lennon, Tom Stevenson and Parker Baglole (employment), Nooreen Bhanji (real estate), Tyrel Henderson (lending), Edward Fan (IP) and Andrew Gray (litigation).
On October 1, 2024, Sleep Country Canada Holdings Inc. ("Sleep Country") announced the successful completion of the previously announced plan of arrangement under section 192 of the Canada Business Corporations Act (the "Arrangement"), pursuant to which 16133258 Canada Inc., a newly-formed and wholly-owned subsidiary of Fairfax Financial Holdings Limited ("Fairfax") acquired all of the issued and outstanding common shares of Sleep Country for C$35.00 in cash per common share.
As previously announced, shareholders of Sleep Country approved the Arrangement at a special meeting of shareholders held on September 18, 2024 and obtained a final order from the Ontario Superior Court of Justice (Commercial List) in respect of the Arrangement on September 25, 2024.
Sleep Country’s common shares will be delisted from the Toronto Stock Exchange and will cease to be a reporting issuer under applicable Canadian securities laws.
Further information can be found on Newswire's website.
Sleep Country Canada Holdings Inc. is Canada's leading specialty sleep retailer with a purpose to transform lives by awakening Canadians to the power of sleep.
Fairfax Financial Holdings Limited is a holding company whose corporate objective is to build long term shareholder value by achieving a high rate of compound growth in book value per share over the long term.