Renaissance shareholders vote convincingly for Husky bid

Article Abstract:

Shareholders of Renaissance Energy Ltd. overwhelmingly approved the takeover of the company by Husky Oil Ltd., sending a clear signal that much of the initial investor skepticism toward the deal has evaporated. Holders of Renaissance shares and options voted more than 95% in favor of the $2.58-billion deal at a special meeting in Calgary. Renaissance and Husky agreed on the cash-and-stock takeover offer June 19 2000. The merger will create a new integrated oil and gas company, Husky Energy Inc., with assets of nearly $9-billion. Renaissance shareholders will receive $5.83 in cash and 0.815 of a Husky Energy share for each Renaissance share held, assuming they opt for the maximum cash portion available under Husky Oil's offer. The deal still requires court approval at a hearing scheduled for today. Renaissance's stock closed on the day, within shouting range of the $16.60 it traded at the day before the takeover was announced.

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KPMG partner asks court to delay merger vote

Article Abstract:

KPMG Canada vice-chairman David Knight is asking a court to delay a voting on the company's plan to merge with Arthur Andersen Canada. The accounting company is scheduled to vote on the merger deal in the first week of Apr 1999. Knight, who filed his petition with the Ontario Court's General Division, believes the merger violates a previous partners' deal that requires 30 days notice in the event of a major revision to the original partnership agreement.

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Court delays KPMG merger vote

Article Abstract:

KPMG Canada was ordered by a court to delay a vote on a proposed merger with Authur Andersen Canada until Apr 26, 1999, in order to give the 580 KPMG Canadian partners enough time to assess the merger. The court injunction was sought by David Knight, a KPMG partner who was opposing the merger. The merger would result in the creation of Canada's biggest accounting and consulting company.

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