MONTREAL, April 18 /CNW Telbec/ - Montrusco Bolton Investments Inc.
("MBII") confirms that it does not support the offer by Clean Harbors,
Inc. ("CLH") for all of the issued and outstanding shares of Badger
Daylighting Ltd. ("Badger"), of which the funds MBII manages now hold
in aggregate over 1 million shares, representing approximately 9.8% of
Badger, because we believe that:
the current offer made by CLH is not in the best interests of Badger's
CLH could likely improve its offer, and
the status quo is better than the proposed offer.
Behrak Shahriari, Investment Officer of MBII, said "We are one of the
largest holders of Badger, and we prefer to own Badger in its current
form, rather than to accept the offer made by CLH. As an alternative,
CLH may revise its offer to fully value Badger and pay for the
acquisition with cash or securities that investors could sell for full
SOURCE MONTRUSCO BOLTON INVESTMENTS
For further information:
Montrusco Bolton Investments Inc.