The board of directors of Aimia said the takeover offer undervalues the company and is not compelling
is recommending shareholders reject a takeover offer from Mithaq Capital SPC because it says it undervalues the company and is not compelling.
The board says the hostile offer does not reflect some of the potential growth opportunities that the company is pursuing and cautioned it contains some 20 conditions that must be satisfied or waived. Mithaq, a segregated portfolio company and affiliate of Mithaq Holding Co., a family office based in Saudi Arabia, is the largest shareholder in Aimia.Aimia, which sold its flagship Aeroplan loyalty program to Air Canada in 2019 and reinvented itself as an investment holding company, announced a deal last week to raise up to $32.5-million in a private placement of shares and warrants.
It says that its directors and officers, as well as the investors in the private placement, intend to reject the Mithaq offer.Market data values update automatically. Checking box will enable automatic data updates.
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