Press Release: Anjac to Acquire Apollo in an All Cash, C$327 Million Transaction
Press Release: Anjac to Acquire Apollo in an All Cash, C$327 Million Transaction
Anjac to Acquire Apollo in an All Cash, C$327 Million Transaction
Anjac将以3.27亿加元全现金交易收购阿波罗
C$4.50 per share Consideration represents a 172% premium to the 20-day VWAP of the Apollo Shares on the TSX as of November 4, 2021
每股对价4.50加元,较阿波罗股票截至2021年11月4日在多伦多证交所的20天VWAP溢价172%
All cash offer crystalizes value for Apollo Shareholders, offering immediate liquidity and certainty of value
全现金报价为阿波罗股东明确了价值,提供了即时的流动性和价值确定性。
Apollo's Board and Independent Committee have unanimously approved the Transaction and recommend that Apollo Shareholders vote in favour of the Transaction
阿波罗公司董事会和独立委员会一致批准了这笔交易,并建议阿波罗股东投票支持这笔交易
Lock-ups representing 51.7% of Apollo Shares, which includes irrevocable support of 46.6% of Apollo Shares
锁定相当于阿波罗51.7%的股份,其中包括对46.6%的阿波罗股份的不可撤销支持
TORONTO & PARIS--(BUSINESS WIRE)--November 05, 2021--
多伦多和巴黎--(美国商业新闻网)--2021年11月5日--
Apollo Healthcare Corp. (TSX: AHC -- "Apollo" or the "Company") and Anjac SAS ("Anjac") are pleased to announce that they have entered into a definitive arrangement agreement ("Arrangement Agreement") pursuant to which Anjac has agreed to acquire all of the issued and outstanding Class B shares of Apollo ("Apollo Shares"), other than certain Apollo Shares held by members of management ("Rollover Shares"), by way of a statutory plan of arrangement ("Plan of Arrangement") under the Business Corporations Act (Ontario) ("Transaction"). Under the terms of the Arrangement Agreement, holders of Apollo Shares ("Apollo Shareholders") will receive C$4.50 in cash for each Apollo Share held ("Consideration"), which implies an aggregate equity value for Apollo (including the Rollover Shares), of approximately C$327 million, on a fully-diluted, in-the-money, treasury method basis.
Apollo Healthcare Corp.(多伦多证券交易所股票代码:AHC--“Apollo”或“公司”)和Anjac SAS(“Anjac”)高兴地宣布,他们已达成一项最终安排协议(“安排协议”),根据该协议,Anjac同意以法定安排计划的方式收购阿波罗所有已发行和已发行的B类股票(“阿波罗股份”),管理层持有的若干阿波罗股份(“展期股份”)除外。根据安排协议的条款,阿波罗股份持有人(“阿波罗股东”)持有的每股阿波罗股份将获得4.50加元的现金(“对价”),这意味着阿波罗股份(包括展期股份)的总股本价值约为3.27亿加元,按完全摊薄的现金国库法计算。
Charles Wachsberg, Chairman and Co-Chief Executive Officer of Apollo, commented: "We are delighted to be able to deliver a substantial premium and investment liquidity for all of our faithful shareholders through Apollo's partnership with Anjac. Apollo's established leadership and commitment to strategic, client centric engagement, as well as to building world class retail brands for its cherished family of clients will be further enhanced in its association with Anjac. We look forward to working closely with Anjac to deliver industry leading innovation and customization throughout our global distribution platform."
阿波罗公司董事长兼联席首席执行官查尔斯·瓦奇斯伯格评论说:“我们很高兴能够通过阿波罗公司与安雅克公司的合作,为我们所有忠实的股东提供可观的溢价和投资流动性。阿波罗公司确立的领导力和致力于以客户为中心的战略接触,以及为其珍视的客户大家庭打造世界级零售品牌的承诺,将在与安雅克公司的合作中得到进一步加强。我们期待着与安雅克公司密切合作,在我们的全球分销平台上提供业界领先的创新和定制。
Aurelien Chaufour, Chief Executive Officer of Anjac, commented: "With assets in the USA, Canada and Europe, Anjac is a global leader in developing first to market and exclusive technologies within the health and beauty care and pharmaceutical sectors. We look forward to collaborating with the talented Apollo team on future initiatives and to bringing exceptional quality products to market in the dedicated service of Apollo's customers."
Anjac公司首席执行官Aurelien Chaufour评论说:“Anjac公司在美国、加拿大和欧洲拥有资产,是在保健、美容护理和制药领域率先向市场开发独家技术的全球领先者。我们期待着与才华横溢的阿波罗团队就未来的计划进行合作,并为阿波罗公司的客户提供专门的服务,将高质量的产品推向市场。”
HIGHLIGHTS & KEY BENEFITS TO APOLLO SHAREHOLDERS:
给阿波罗股东带来的亮点和主要好处:
-- The Consideration represents a 157% premium to the closing price of the
Apollo Shares on the Toronto Stock Exchange ("TSX") as at November 4,
2021 and a 172% premium over the volume-weighted average price of the
Apollo Shares on the TSX based for the 20 trading days ending on November
4, 2021.
-- The all cash offer crystalizes value for Apollo Shareholders and provides
full liquidity and certainty of value.
-- As a condition to the Transaction, Apollo's Co-CEOs, Charles Wachsberg
and Richard Wachsberg (collectively, the "Rollover Shareholders") have
agreed to exchange approximately 64% of their total Apollo Shares for
equity in an affiliate of Anjac, which will represent 30% of the pro
forma equity interests therein, valued at the same price as the
Consideration.
-- Apollo's board of directors ("Board") formed an independent committee
(the "Independent Committee") of directors, consisting of Jeffrey
Spiegelman, Andrew Schachter and Carlo LiVolsi, to negotiate and review
the Transaction. The Independent Committee unanimously recommended that
the Board approve the Transaction and the Board (with interested
directors abstaining), having received the recommendation of the
Independent Committee, unanimously approved the Transaction and
unanimously recommends that Apollo Shareholders vote in favour of the
Transaction.
-- The Rollover Shareholders, who hold approximately 46.6% of the Apollo
Shares, have entered into "hard" irrevocable voting support agreements
("Hard Lock-Ups") with Anjac pursuant to which they have agreed to vote
their Apollo Shares in favour of the shareholder resolution approving the
Transaction. The remaining directors and officers of Apollo, who hold
approximately 5.1% of the Apollo Shares, have entered into "soft" voting
support agreements ("Soft Lock-Ups"). Together, the Hard Lock-Ups and
Soft Lock-Ups represent approximately 51.7% of the Apollo Shares.
-- The Independent Committee obtained a formal valuation (the "Formal
Valuation") from its independent financial advisor, Cormark Securities
Inc. ("Cormark"), as required by MI 61-101 (as defined below). The Formal
Valuation was prepared under the supervision of the Independent Committee
and determined that, as at November 4, 2021, and based upon and subject
to the assumptions, limitations and qualifications contained in Cormark's
written valuation report, the Consideration falls within the valuation
range per Apollo Share determined by Cormark. In addition, Cormark has
provided a fairness opinion to the Independent Committee that, as of the
date of such opinion and subject to the assumptions, limitations and
qualifications set out in such opinion, and such other matters as Cormark
considered relevant, the Consideration to be received pursuant to the
Transaction is fair, from a financial point of view, to the Apollo
Shareholders (other than the Rollover Shareholders).
-- The Board received an opinion from its financial advisor, Canaccord
Genuity Corp. ("Canaccord Genuity"), that, as of the date of such opinion
and subject to the assumptions, limitations and qualifications set out in
such opinion, and such other matters as Canaccord Genuity considered
relevant, the Consideration to be received pursuant to the Transaction is
fair, from a financial point of view, to the Apollo Shareholders (other
than the Rollover Shareholders).
-对价较该公司收盘价溢价157%截至11月4日,阿波罗在多伦多证券交易所(多伦多证券交易所)的股票,2021年,比成交量加权平均价溢价172%截至11月的20个交易日,阿波罗在多伦多证交所的股票 4, 2021. -全现金报价为阿波罗股东明确了价值,并提供了充分的流动性和价值的确定性。-作为交易的条件,阿波罗的联席首席执行官查尔斯·瓦赫斯伯格(Charles Wachsberg)理查德·瓦奇斯伯格(统称为“展期股东”)同意用他们全部阿波罗股份的大约64%换取Anjac一家附属公司的股权,将占Pro的30%其中的形式股权,估值与考虑一下。--阿波罗公司董事会(“董事会”)成立独立委员会(“独立委员会”)董事,由杰弗里组成斯皮格尔曼,安德鲁·沙赫特和卡洛·利沃尔西,谈判和审查交易。独立委员会一致建议董事会批准这项交易,董事会(有利害关系)董事弃权),在收到独立委员会一致批准了这笔交易,并一致建议阿波罗的股东投票支持交易记录。-展期股东,持有阿波罗约46.6%的股份股票,已经签订了“硬的”不可撤销的投票支持协议(“硬禁闭”)与Anjac,根据该协议,他们已同意投票他们的阿波罗股票赞成股东决议批准交易记录。阿波罗剩下的董事和官员,他们持有阿波罗公司约5.1%的股份已进入“软”投票支持协议(“软锁定”)。总而言之,硬锁和软锁定约占阿波罗股票的51.7%。--独立委员会获得正式估值(“正式”估值“),来自其独立财务顾问Cormark SecuritiesInc.(“Cormark”),如MI 61-101(定义如下)所要求。正式的估值是在独立委员会的监督下编制的。并决定,截至2021年11月4日,根据和主题对Cormark中包含的假设、限制和限制书面估价报告,对价在估价范围内。每股阿波罗股票的范围由Cormark确定。此外,Cormark还拥有向独立委员会提供公平意见,认为截至该意见的日期,并受假设、限制和该意见中所列的资格以及Cormark等其他事项被认为是相关的,根据从财务角度看,这笔交易对阿波罗号来说是公平的。股东(展期股东除外)。-董事会收到了其财务顾问Canaccel的意见Genuity Corp.(“CANACCORD GENINITY”),自该意见发表之日起并在符合下列假设、限制和限制的前提下这样的意见,以及Canaccel Genuity考虑的其他事项有关,则根据该交易将收取的代价为从财务角度看,对阿波罗股东(其他)来说是公平的而不是展期股东)。
TERMS OF THE TRANSACTION
交易条款
The Transaction will be effected by way of a statutory plan of arrangement under the Business Corporations Act (Ontario). The implementation of the Plan of Arrangement will be subject to Apollo Shareholder approval at a special meeting of Apollo Shareholders (the "Special Meeting"), which is expected to be held prior to the end of the year. The Plan of Arrangement will constitute a "business combination" for the purposes of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions ("MI 61-101"), and will therefore also require the approval of the holders of a majority of the shares cast by Apollo Shareholders at the Special Meeting, excluding the Apollo Shares held by the Rollover Shareholders, in addition to approval by 66 2/3% of all votes cast by Apollo Shareholders at the Special Meeting. The Transaction is also subject to the approval of the Ontario Superior Court of Justice, in addition to certain other closing conditions customary to a Transaction of this nature. Other than the approval of the TSX, there are no regulatory approvals to complete the Transaction.
该交易将根据“商业公司法”(安大略省)以法定安排计划的方式完成。安排计划的实施将有待阿波罗股东在阿波罗股东特别大会(“特别大会”)上批准,该特别大会预计将于年底前举行。就多边文件61-101-在特别交易中保护少数证券持有人(“MI 61-101”)而言,该安排计划将构成一个“业务合并”,因此,除了获得Apollo股东在特别会议上所投全部投票数的662/3%的批准外,该安排计划还需要获得Apollo股东在特别会议上投出的多数股份(不包括展期股东持有的Apollo股份)的持有人的批准。这笔交易还需得到安大略省高等法院的批准,以及此类交易惯常的某些其他成交条件。除了多伦多证交所的批准外,完成交易没有监管部门的批准。
Additional details of the Transaction will be provided to Apollo Shareholders in an information circular expected to be mailed in the coming weeks. It is currently anticipated that, subject to receipt of all court, shareholder and other approvals, the Transaction is expected to be completed in the fourth quarter of 2021.
交易的更多细节将在一份信息通告中提供给阿波罗的股东,预计将在未来几周内邮寄。目前预计,在收到所有法院、股东和其他批准的情况下,这笔交易预计将于2021年第四季度完成。
INDEPENDENT COMMITTEE AND BOARD RECOMMENDATION
独立委员会和董事会建议
The Independent Committee unanimously recommended that the Board approve the Transaction and the Board (with interested directors abstaining), having received the recommendation of the Independent Committee, unanimously approved the Transaction and unanimously recommends that Apollo Shareholders vote in favour of the Transaction. In making their respective determinations, the Board and the Independent Committee considered (as applicable), among other factors, (i) the fairness opinion received from Canaccord Genuity which states that, as of the date of such opinion and subject to the assumptions, limitations and qualifications set out in such opinion, and such other matters as Canaccord Genuity considered relevant, the Consideration to be received pursuant to the Transaction is fair, from a financial point of view, to the Apollo Shareholders (other than the Rollover Shareholders), (ii) the Formal Valuation for purposes of MI 61-101 from Cormark, independent financial advisor to the Independent Committee, pursuant to MI 61-101, (iii) the fairness opinion from Cormark, which states that, as of the date of such opinion and subject to the assumptions, limitations and qualifications set out in such opinion, and such other matters as Cormark considered relevant, the Consideration to be received pursuant to the Transaction is fair, from a financial point of view, to the Apollo Shareholders (other than the Rollover Shareholders), and (iv) the terms of the Arrangement Agreement.
独立委员会一致建议董事会批准该交易,董事会(在感兴趣的董事弃权的情况下)在收到独立委员会的建议后一致批准该交易,并一致建议阿波罗股东投票赞成该交易。在作出各自决定时,董事会及独立委员会考虑(如适用)(其中包括)(I)从Canaccel Genuity收到的公平意见,该意见指出,截至该意见发表日期,在该意见所载假设、限制及资格的规限下,以及Canaccel Genuity认为相关的其他事项,根据该交易收取的代价从财务角度而言对阿波罗股东(展期股东除外)是公平的,(Ii)就MI 61-101而言的正式估值。(Iii)Cormark的公平意见,该意见指出,于该意见发表日期,在该意见所载假设、限制和约制的规限下,以及Cormark认为有关的其他事项,从财务角度而言,根据交易收取的代价对阿波罗股东(展期股东除外)是公平的,及(Iv)安排协议的条款。