Calgary-based Anthony Clark International Insurance Brokers Ltd. (TSX:ACL) says that it has formed a special committee to explore strategic alternatives for the company.
Back in September, the firm announced that it had initiated a process to examine potential strategic alternatives with a view to enhancing shareholder value, including a possible sale of the company, a merger, or joint venture.
Now, it says that it has formed a special committee comprised of three board members to evaluate its alternatives.
The special committee is comprised of directors Douglas Farmer, Normand Cournoyer and Robert Sadleir, and will be chaired by Sadleir.
The company says it does not intend to comment further regarding the review process unless a specific transaction is approved by the board, the review process is concluded, or further disclosure is deemed necessary.