Eric Reguly in why this is a disaster for Jim Flaherty:
The 46th "disaster for Jim Flaherty":
TORONTO, Sept. 25 /CNW/ - Connors Bros. Income Fund (TSX: CBF.UN) (the "Fund"), whose subsidiaries market consumer food products under brands such as Bumble Bee(R), Clover Leaf(R), Brunswick(R), and Sweet Sue(R), today announced that it has entered into a transaction agreement (the "Agreement") to sell its operating businesses to an affiliate of US Private Equity firm, Centre Partners Management, LLC ("Centre Partners"). Centre Partners, established in 1986, is a leading middle market private equity firm with offices in New York and Los Angeles.
Under the terms of the Agreement, Centre Partners will acquire the operating subsidiaries controlled by the Fund, which will result in the Fund's unitholders receiving C$8.50 per unit in cash. The C$8.50 per unit price will be paid to the Fund's unitholders by way of a distribution on and redemption of the Fund's outstanding units.
Friday, September 26, 2008
Posted by Fillibluster at 7:37 AM