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Article: Mullen Group Ltd. makes a proposal to acquire Livingston International Income Fund.
- Article from:
- Mergers & Acquisitions Week
- Article date:
- November 18, 2009
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(TSX - MTL) Mullen Group Ltd. ("Mullen") announced that on October 21st it made a proposal to Livingston International Income Fund (TSX: LIV.UN) ("Livingston") for a business combination by way of plan of arrangement whereby Mullen would acquire all of the outstanding trust units of Livingston on the basis of 0.566 of a common share of Mullen for each trust unit (the "Transaction"), representing consideration of approximately $9.00 per trust unit based on the 10-day volume weighted average trading price of the common shares of Mullen calculated to October 20, 2009, the date prior to Mullen making its proposal to Livingston.
Mullen's proposal represents a premium ...