TORONTO, Dec. 6 /CNW/ - Husky Injection Molding Systems Ltd. ("Husky")
(HKY - TSX) today announced that Husky shareholders have approved a Plan of
Arrangement (the "Arrangement") whereby Onex Corporation and certain
affiliates ("Onex") will acquire all of Husky's issued and outstanding common
shares. The Arrangement was approved by approximately 99.9% of the votes cast
by shareholders present in person or represented by proxy at Husky's annual
and special meeting.
Under the terms of the Arrangement, Onex will pay $8.235 for each common
share held by shareholders other than Robert and Elizabeth Schad and $8.10 for
each common share held by Mr. and Mrs. Schad.
The Arrangement is subject to final approval of the Ontario Superior
Court of Justice which is expected to be sought on December 10, 2007, in
Toronto. Provided that final approval of the Court is obtained, and that all
other conditions to the completion of the Arrangement are satisfied or waived,
the Arrangement is expected to close on December 13, 2007.
Husky Injection Molding Systems Ltd. (www.husky.ca) is a leading global
supplier of injection molding equipment and services to the plastics industry.
Husky has more than 40 service and sales offices, supporting customers in over
100 countries. Husky's primary manufacturing facilities are located in Canada,
the United States, Luxembourg and China. Husky's common shares (HKY) are
listed on the Toronto Stock Exchange.
For further information:
For further information: Alexandra Walsh, Marketing Communications,
Husky Injection Molding Systems, (905) 951-5000, ext. 3653, email@example.com