When the deal closes, Magnet’s subordinate voting shares will be delisted from the Toronto Stock Exchange
The court approval comes despite shareholder Nellore Capital Management LLC disagreeing with Thoma Bravo’s valuation of Magnet and threatening court action if better terms could not be reached.
Nellore, which holds 11 per cent of Magnet’s subordinate shares, has argued the shares are worth more than the $44.25 in cash most holders will receive. Rolling shareholders will receive $39 per share.Your Globe
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