SunOpta shareholders approve $6.50 per share Refresco acquisition

SunOpta Inc. (NASDAQ: STKL) announced that shareholders approved the proposed acquisition by an affiliate of Refresco Holding B.V. for $6.50 per share in cash. The arrangement received approval from 98.06% of votes cast at a special shareholder meeting held April 16.

The Minneapolis-based supply chain solutions provider said shareholders also approved a non-binding executive compensation proposal by 82.45% of votes cast. The acquisition will be completed through a plan of arrangement under the Canada Business Corporations Act.

Several conditions remain before the transaction closes, including regulatory clearance, approval by the Ontario Superior Court of Justice, and satisfaction of other customary closing conditions. The court hearing for final approval is scheduled for April 22 at 9:30 a.m. Eastern Time.

SunOpta operates as a North American supply chain solutions provider, delivering customized solutions for brands, retailers and foodservice providers across beverages, broths and snacks. The company distributes products through retail, club, foodservice and e-commerce channels across North America.

The information is based on a company press release statement.

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