Under the enhanced offer, the aggregate cash consideration has been increased to approximately C$83.0 million, while the maximum number of Mercer shares available to be issued under the offer remains 11,741,496 Mercer shares.
Earlier this week, Mercer had extended the expiry date for its offer to April 16. The company previously entered into voting support agreements with its two largest institutional shareholders and its chairman and CEO, who collectively own approximately 44% of the outstanding Mercer Shares, who have agreed to vote their Mercer Shares in favor of the shareholder approval.
Mercer also announced that it has received a favorable decision from the federal Minister of Industry following his review of Mercer's proposed acquisition of Fibrek under the Investment Canada Act, and also has been granted early termination of the statutory waiting period for U.S. competition and antitrust review by the U.S. Federal Trade Commission.
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