TORONTO — Sleep Country Canada Holdings Inc. says it has agreed to be sold to Fairfax Financial Holdings Limited for around $1.7 billion.
The deal would see a subsidiary of the financial holding company acquire all issued and outstanding common shares of Sleep Country for $35 per share.
Sleep Country president and CEO Stewart Schaefer says the transaction "clearly demonstrates the value and strength of our brands and organization."The company's co-founder Christine Magee, who chaired a special committee of independent directors that oversaw the negotiation, says the deal provides "certainty of significant and immediate value to shareholders."
Financial Holding Company Fairfax Financial Holdings Toronto Stock Exchange The Canadian Press
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