Search form

DIC Voting Today On Cookie Jar Merger

C21MEDIA reports that DIC Ent.'s stockholders met today to vote on the proposed merger with Canadian Cookie Jar Ent., which is worth $87.6 million.

The stockholder meeting was scheduled for 10 a.m. to discuss the proposed merger, which was first announced June 20.

DIC has suspended trading on London's Alternative Investment Market (AIM) pending the outcome of the meeting. If the shareholders approve the merger, it will be submitted to the Delaware secretary of state on or around July 21, with a withdrawal from AIM on July 23.

The deal has a total equity value of $31.5 million, with the remainder including debts, fees and expenses associated with the transaction. Select DIC execs will get bonuses of $4.5 million as part of the deal.

Tags