Vulcan To Acquire Polaris For Approx. C$252 Mln - Quick Facts

(RTTNews) - Polaris Materials Corp. (PLS.TO) announced an agreement with Vulcan Materials Company (VMC), pursuant to which Vulcan, through an indirect subsidiary, will acquire all of the issued and outstanding shares of Polaris for C$2.79 per share in cash by way of a statutory plan of arrangement. The price per share implies an aggregate fully diluted equity value for Polaris of approximately C$252 million.

Polaris' Board formed a special committee to supervise the process undertaken and negotiate and review the transaction. The Special Committee and the Board of Directors have unanimously recommended that shareholders, optionholders and deferred unit holders of Polaris vote in favour of the transaction.