October 24, 2016 / 11:47 AM / a year ago

BRIEF-Chemtrade responds to Canexus directors' circular

Oct 24 (Reuters) - Chemtrade Logistics Income Fund

* Chemtrade responds to Canexus directors’ circular

* Canexus board urged to shorten minimum offer period and let shareholders decide in response by Chemtrade

* Chemtrade’s offer “fairly values Canexus and provides canexus shareholders with a significant cash premium”

* Chemtrade says it believes that Canexus’ standalone plan does not offer a credible alternative path to maximizing value for Canexus shareholders

* Chemtrade says Canexus’ estimate of $25 million of annual capital expenditures is wholly insufficient to adequately maintain assets

* Believes “offer has significantly less regulatory risk than terminated” deal between canexus and superior plus Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below