- Apr 24, 2001
- 5,994
- 496
- 126
Bad news for us, Canadians... Instead of more competition, we got screwed!
BestBuy acquires FutureShop.
Here's an excerpt (linking does not work):
Burnaby, B.C., August 23, 2001 - Future Shop Ltd. (?TSE: FSS?) announces that it has mailed a
Directors? Circular to its shareholders responding to today?s cash take-over bid by Best Buy Co.,
Inc. (?NYSE: BBY?) for all common shares of Future Shop at a price per share of $17.00 (the
?Offer?). The Offer was made pursuant to a Support Agreement between Best Buy and Future Shop
announced on August 14, 2001. The Offer expires at 5:00 p.m., Vancouver time, on October 4,
2001, unless it is extended by Best Buy in accordance with the terms of the Support Agreement.
The Board of Directors of Future Shop has unanimously approved the Offer and has determined
that the Offer is fair to Future Shop?s shareholders and is in the best interests of Future Shop and
its shareholders. The Board of Directors of Future Shop unanimously recommends that
shareholders accept the Offer and tender their Common Shares to the Offer.
The Directors? Circular will be available at the Canadian Securities Administrator?s Web Site at
www.sedar.com and may be obtained from the Company, its financial advisor or its registrar and
transfer agent, as set forth in the Directors? Circular.
BestBuy acquires FutureShop.
Here's an excerpt (linking does not work):
Burnaby, B.C., August 23, 2001 - Future Shop Ltd. (?TSE: FSS?) announces that it has mailed a
Directors? Circular to its shareholders responding to today?s cash take-over bid by Best Buy Co.,
Inc. (?NYSE: BBY?) for all common shares of Future Shop at a price per share of $17.00 (the
?Offer?). The Offer was made pursuant to a Support Agreement between Best Buy and Future Shop
announced on August 14, 2001. The Offer expires at 5:00 p.m., Vancouver time, on October 4,
2001, unless it is extended by Best Buy in accordance with the terms of the Support Agreement.
The Board of Directors of Future Shop has unanimously approved the Offer and has determined
that the Offer is fair to Future Shop?s shareholders and is in the best interests of Future Shop and
its shareholders. The Board of Directors of Future Shop unanimously recommends that
shareholders accept the Offer and tender their Common Shares to the Offer.
The Directors? Circular will be available at the Canadian Securities Administrator?s Web Site at
www.sedar.com and may be obtained from the Company, its financial advisor or its registrar and
transfer agent, as set forth in the Directors? Circular.
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