Foodtastic Proposes to Acquire MTY Food Group for $43 Per Share in Cash
BNN Bloomberg ·
Foodtastic Inc. (“Foodtastic”), a Canadian restaurant franchisor, today made public its proposal to acquire all outstanding shares of MTY Food Group Inc. (“MTY”) (TSX: MTY) for $43 per share in cash (the “Proposed Transaction”), which would deliver certain value to shareholders at a significant premium. Specifically, the purchase price represents a 32% premium to MTY’s current share price and a 37% premium to MTY’s 30-day volume-weighted average price.1