TORONTO – SiriusXM Canada has received a final order from the Ontario Superior Court of Justice (Commercial List) approving its plan to recapitalize the company by way of a go-private transaction.
The deal, approved by shareholders last week, still requires CRTC approval and the satisfaction or waiver of customary closing conditions. It is expected to close before the end of this year.
"The Court's approval for our proposed recapitalization go-private transaction builds on the strong shareholder voting support we received last week, bringing us another step closer to finalizing the transaction," said SiriusXM Canada president and CEO Mark Redmond, in a statement. "With the final order in hand and our shareholder approval in place, we will continue to work to secure the necessary CRTC regulatory approval to close the transaction in a timely fashion."
