Shareholders in Arvida have voted in favour of the scheme of arrangement that will see all Arvida shares acquired by Stonepeak Alps BidCo at $1.70 per share.
The resolution to approve the scheme was passed by the requisite majorities of shareholders.
The scheme is still subject to regulatory approvals, including a "no objection statement" from the Takeovers Panel, approval under the Overseas Investment Act, and final orders of the High Court.
These approvals are currently expected to be obtained by late October 2024.
If the regulatory approvals are received before October 17, the scheme is anticipated to be implemented, and shareholders will be paid on or around November 13, 2024.
See more
