Walker Industries to Acquire Organic Resource Management
Goodmans represents Walker Industries Holdings Limited (“Walker”) in connection with its agreement to acquire all of the outstanding common shares of Organic Resource Management Inc. (“ORMI”) for a cash consideration of approximately $14.32 million at a price of $3.25 per common share on October 17, 2012. The transaction will be implemented by way of a court-approved plan of arrangement under the CBCA (the "Arrangement"). The completion of the Arrangement is subject to the approval of ORMI's shareholders at a special meeting which is expected to be held in December 2012. The Arrangement has been approved unanimously by the Board of Directors of ORMI.
Walker is a diversified company whose group of companies include aggregates, construction, emulsions, environmental project management, waste management, renewable energy projects and green building.
ORMI is Canada's largest provider of vacuum truck services for the collection, processing and recycling of food related organic residuals into feedstock for biogas renewable energy production.
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