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Title: CLM Delisted Post by: Super Stock Picker on May 16, 2011, 09:32:01 PM Following its acquisition, Consolidated Thompson Iron Mines Limited (CLM) has been delisted from Toronto Stock Exchange on May 13th.
As a result, this stock has been sold on that day from the Low PEG Ratio portfolio. You can read the complete Press Release below: Cliffs Natural Resources Inc. and Consolidated Thompson Iron Mines Announce Close of Acquisition May 12, 2011 (Canada NewsWire Group) -- CLEVELAND and MONTREAL, May 12, 2011 /CNW/ -- Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) and Consolidated Thompson Iron Mines Limited (TSX: CLM) jointly announced today that Cliffs has closed on its acquisition of Consolidated Thompson. Cliffs financed the approximately C$4.9 billion (including net debt) transaction through committed financing, including a $1.25 billion term loan, $750 million in bridge financing and available cash on hand. As previously indicated, Cliffs plans to replace the $750 million in bridge financing by accessing the capital markets. Cliffs indirectly acquired all of the outstanding shares of Consolidated Thompson for C$17.25 per share pursuant to a court-approved plan of arrangement under the Canadian Business Corporations Act. Consolidated Thompson is now an indirect wholly-owned subsidiary of Cliffs Natural Resources, and will be rebranded under the Cliffs name. The Consolidated Thompson common shares are expected to be delisted from the Toronto Stock Exchange (TSX) following the close of business on May 13, 2011. |