Maple Leaf withdraws Schneider bid as Smithfield revamps offer
Article Abstract:
Toronto, Ontario-based Maple Leaf Foods Inc. opted to pull out from its per-share bid of C$29 to acquire Kitchener, Ontario-based Schneider Corp. Smithfield Canada Ltd., a firm also seeking to acquire Schneider, on the other hand decided to cancel an option that will allow its redemption of all outstanding exchangeable shares in the eventuality that the number of outstanding shares ten years after the completion of the deal amounted to less than 500,000 shares. Smithfield Canada's purchase bid for Schneider involves the exchange of every share of Schneider's stock for every exchangeable 0.5415 share of Smithfield Canada's stock.
Comment:
Cancels option to redeem all outstanding exchangeable shares if outstanding shares is less than 500,000 shares after 10 years
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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Unionized KFC workers reject B.C. contract offer
Article Abstract:
Tricon Global Restaurants Inc.'s contract offer was narrowly turned downed by unionized workers at 47 KFC restaurants in British Columbia. The offer, which asked for some concessions from workers and called for a signing bonus and an hourly salary hike of 20 cents in each of the second and third years, received 53% of the vote from 680 KFC employees who are represented by Local 3000 of the Canadian Auto Workers union. Louisville, KY-based Tricon, owner of the KFC brand worldwide, expressed disappointment over the rejection of the offer but the firm will resume negotiations, which is tentatively set for Aug. 10, 1998.
Comment:
Its contract offer was narrowly turned downed by unionized workers at 47 KFC restaurants in British Columbia
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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Scintilore starts Hemlo stakes case
Article Abstract:
The trial on Toronto-based junior mining company Scintilore Explorations Ltd.'s bid to recover part of the riches gained by two prospectors from two mines has started on Apr 15, 1999. The company claimed that it is entitled to money and benefits that John Larche and Donald McKinnon gained from claims they staked in the Hemlo gold belt area of Lake Superior in 1979. Scintilore said that it hired Larche at the time to stake claims at the area, which is now being operated by the David Bell and Golden Giant mines.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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