Smith Financial will pay $44 in cash per share of Home Capital. Find out more.
Smith Financial, which is controlled by Stephen Smith, will pay $44 in cash per share that it doesn’t already own, according to the agreement. It currently owns 9.1 per cent of Home Capital shares.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
Home Capital chair Alan Hibben said the board conducted a thorough review of the proposal and concluded it was in the best interests of the company and fair to shareholders. “We are pleased to have reached an agreement that provides shareholders with compelling and certain value in the form of an all-cash offer,” Hibben said.
Home Capital rejected another takeover offer in August from another what it said was an arm’s-length third party, saying at the time that the offer undervalued the company.
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