Spar puts off potential suitor

Article Abstract:

Spar Aerospace Ltd. has refused to open its books to potential bidder IMP Group International Inc. IMP has requested access to Spar's financial books before making a formal takeover bid to Spar's shareholders at a fair and reasonable price. However, Spar is not convinced by the move because it may just be a ploy to drive up Spar shares. Kenneth Rowe, chairman and CEO of IMP Group International, owns about 15% of the shares outstanding of Spar Aerospace.

Asset sales & divestitures, Acquisitions & mergers

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Spar's strategy said key to infighting

Article Abstract:

A group of dissident shareholders of Spar Aerospace Ltd is seeking the ouster of most of the current board and demanding the payment of C$125 million in cash dividend. The group, which holds 58% of the shares, said that the company would be better off if it sold its remaining divisions rather than expanding through acquisitions. The dissident group is lead by investment companies Crescendo Partners LP and Enterprise Capital Management Inc.

Use of Funds

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