• Today
    December 13

  • 03:11 PM

Open to offers

SHAWN CUMBERBATCH, shawncumberbatch@nationnews.com

Added 02 December 2018

ravi-rambarran

Ravi Rambarran, Sagicor Financial Corporation group chief operating officer. (FP)

THE DOOR HAS BEEN LEFT OPEN for Sagicor to accept an acquisition offer better than the US$536 million one now on the table from Canadian company Alignvest Acquisition II Corporation.

Sagicor Financial Corporation group chief operating officer Ravi Rambarran has revealed this, adding the possibility of a takeover battle was covered in the arrangement agreement between the two entities.

On Tuesday, Sagicor and Alignvest announced they had reached a deal where Alignvest would acquire all of Sagicor’s shares for US$536 million (US$1.75 per share).

Officials said once regulatory approval was received, Sagicor would be listed on the Toronto Stock Exchange and delisted from the Barbados Stock Exchange, the Trinidad and Tobago Stock Exchange and the London Stock Exchange.

They added that completion of this arrangement was “dependent upon certain conditions and other regulatory approvals, as well as approval by the shareholders of Alignvest and Sagicor”. If conditions are met, the transaction is expected to close during the first quarter or early in the second quarter of 2019 (SC)

 

Subscribe now to our eNATION edition.

For the latest stories and breaking news updates download the Nationnews apps for iOS and Android.

 

JOIN THE DISCUSSION

Dos and Donts


Welcome to our discussion forum here on nationnews.com. We encourage lively debate, but we also urge you to take note of the following:

  • Stay on topic – This helps keep the thread focused on the discussion at hand. If you would like to discuss another topic, look for a relevant article.
  • Be respectful – Meeting differences of opinion with civil discussion encourages multiple perspectives and a positive commenting environment.
  • Do not type in capitals – In addition to being considered “shouting” it is also difficult to read.
  • All comments will be moderated – Given the volume of comments each day, this may take some time. So please be patient.
  • We reserve the right to remove comments – Comments that we find to be abusive, spam, libellous, hateful, off-topic or harassing may be removed.
  • Reproduction of comments – Some of your comments may be reproduced on the website or in our daily newspapers. We will use the handle, not your email address.
  • Do not advertise – Please contact our Advertising Department.
  • Contact our Online Editor if you have questions or concerns.
  • Read our full Commenting Policy and Terms of Use.
comments powered by Disqus

POLL

Do you think that trade unions have done enough to ensure retrenched workers are not disadvantaged?

Yes
No

FRONT COVER OF TODAY'S NEWSPAPER

CARTOON

INSTAGRAM