CanWest buys more time to arrange Alliance Atlantis financing

TORONTO – CanWest Global Communications Corp. has been given an extension for closing financing to purchase Alliance Atlantis from Aug. 7 to Aug. 15. In a news release, CanWest says it and investment banking firm Goldman Sachs need the extra time for a CanWest affiliate to finalize its debt financing through a banking syndicate and complete the documentation for CanWest’s deal to buy Alliance Atlantis shares for $53 cash each. CanWest and Goldman Sachs gave up on their previous plan to sell high-interest notes to partially fund the $2.3 billion takeover. CanWest says it is “fully committed to closing the...