Transcontinental Makes Bid for PLM
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by Chief Marketer Staff
Transcontinental Inc. has made an all-cash offer to acquire PLM Group Ltd., a Canadian-based commercial printer. Under the terms of the offer, Transcontinental would acquire 29.5 million outstanding shares of PLM for approximately U.S. $122.2 million (C$130 million).
The deal is contingent on PLM shareholder approval, but is a formality given that the company’s board has recommended going ahead with the sale and its founder either outright owns or controls 51.2% of the outstanding shares.
PLM employs 470 workers throughout four facilities in the greater Toronto area. The company generated C$126 million during 2006. The company’s client base is primarily made up of the financial institution, retail and publishing industries.
