Clarington Corp. today announced that it has retained a financial advisor to help review the $254 million takeover offer proposed by CI Financial.
Clarington said the independent special committee of the board of directors has retained independent investment bank Blair Franklin Capital Partners Inc. as its financial advisor.
On Monday, CI announced that it intends to make a $254 million cash and share offer for Clarington.
CI plans to offer Clarington shareholders $13 a share.
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