Offering sells 10,515,247 shares at C$47.55 apiece to George Weston
By Devika Patel
Knoxville, Tenn., July 15 - Loblaw Cos. Ltd. said it will conduct a C$500 million private placement of stock with George Weston Ltd.
The company will sell 10,515,247 common shares at C$47.55 apiece. The price per share is identical to the July 12 closing share price.
Proceeds will be used to fund a portion of the cash consideration of Loblaw's planned acquisition of Shoppers Drug Mart Corp.
Toronto-based Loblaw, a subsidiary of George Weston Ltd., is a distributor of food and general merchandise.
| Issuer: | Loblaw Cos. Ltd.
|
| Issue: | Common shares
|
| Amount: | C$500 million
|
| Shares: | 10,515,247
|
| Price: | C$47.55
|
| Warrants: | No
|
| Investor: | George Weston Ltd.
|
| Pricing date: | July 15
|
| Stock symbol: | Toronto: L
|
| Stock price: | C$47.55 at close July 12
|
| Market capitalization: | C$14.61 billion
|
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