Limited Brands' offer to acquire outstanding subordinate voting shares of La Senza
13 Jan '07
1 min read
Limited Brands Inc and La Senza Corporation announced the completion of Limited Brands' offer to acquire all of the outstanding subordinate voting shares of La Senza for C$48.25 per share, or approximately C$710 million ($609 million US).
14,202,648 subordinate voting shares, representing approximately 98.9% of the issued and outstanding subordinate voting shares (on a fully diluted basis after the conversion into subordinate voting shares of all multiple voting shares), were deposited to the offer.
All conditions of the offer, which expired at 10 p.m. (EST) on January 12, 2007, were satisfied, and Limited Brands has taken up and paid for all the shares that were deposited to the offer.
Limited Brands will promptly proceed to exercise its statutory right to acquire all remaining La Senza shares not tendered into the offer. Limited Brands will also apply to have the subordinate voting shares delisted from the Toronto Stock Exchange and to have La Senza cease to be a reporting issuer in Canada.
Limited Brands, through Victoria's Secret, Bath & Body Works, C.O. Bigelow, Express, Limited Stores, White Barn Candle Co., Henri Bendel and Diva London, presently operates 3,543 specialty stores.
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