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Article: United States : Cossette accepts $131M offer from US firm.

Article from:
TendersInfo
Article date:
November 12, 2009
Copyright

Byline: rakshali03

Advertising agency Cossette Inc. found a white knight Tuesday in a U.S. private equity investor that has agreed to pay $131.5-million in cash for the firm, topping a hostile bid by a group led by former executives of the company.

Mill Road Capital LP has agreed to take Cossette Inc. (TSX: KOS) private, but leave the current management in charge and the head office in Quebec City.

The friendly offer will see the U.S. firm pay $7.87 per share in cash for Cossette, which counts General Motors Canada and McDonald's Restaurants as clients.

"It is kind of our white knight and we're very pleased about that," said Marcel ...

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