Blue Ant Media announced Tuesday its proposed acquisition of Thunderbird Entertainment is close to completion, after receiving the required approval from both the Competition Bureau and the B.C. Supreme Court.
Blue Ant said in a press release the Supreme Court of British Columbia recently issued a final order in connection with the previously announced plan of arrangement under B.C.’s Business Corporations Act whereby Blue Ant will acquire all of the outstanding shares of Thunderbird. This final order was the final approval required from the court prior to the closing of the arrangement, Blue Ant said.
In addition, the Competition Bureau has issued a no-action letter in connection with the transaction, thereby satisfying the “Competition Act Approval” condition in the arrangement agreement, according to Blue Ant.
The acquisition arrangement is expected to be completed this month, subject to the satisfaction of customary closing conditions, Blue Ant added.
“We are pleased to cross two additional milestones on our path to acquiring Thunderbird,” Michael MacMillan, CEO of Blue Ant, said in a statement. “We look forward to completing the transaction and together scaling Blue Ant for its next phase of growth.”
