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    WN   CA9611485090

GEORGE WESTON LIMITED

(WN)
  Report
Delayed Toronto Stock Exchange  -  05/27 04:00:00 pm EDT
154.60 CAD   +1.09%
05/20George Weston Limited Announces Normal Course Issuer Bid
MT
05/20GEORGE WESTON LIMITED (TSX : WN) announces an Equity Buyback for 7,304,927 shares, representing 5% of its issued share capital.
CI
05/20GEORGE WESTON LIMITED BRIEF : Announces Normal Course Issuer Bid
MT
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FGF Brands Inc. completed the acquisition of Weston Foods Fresh and Frozen Bakery Businesses of George Weston Limited (TSX:WN) for CAD 1.1 billion.

12/10/2021 EDT

FGF Brands Inc. signed a definitive agreement to acquire Weston Foods Fresh and Frozen Bakery Businesses of George Weston Limited (TSX:WN) for CAD 1.2 billion on October 25, 2021. Under the terms of agreement, FGF Brands is paying the consideration in cash. The purchase price represents approximately a 10.0x multiple on the 2021 estimated EBITDA of the Weston Foods fresh and frozen bakery businesses. Scotiabank provided financing. FGF Brands will pay a termination fee of CAD 72 million in case of deal termination. The transaction is subject to compliance with the Competition Act (Canada) and the Hart-Scott Rodino Antitrust Improvements Act of 1976 and other closing conditions customary in transactions of this nature and subject to the receipt of all regulatory approvals and satisfaction of customary transaction closing conditions. George Weston expects to close the transaction before the end of the first quarter of 2022. The Company expects to return the net proceeds from the transaction to shareholders through share repurchases over time. Matthew Kaczmarek, Matt DiCesare and Ben Getka of Houlihan Lokey and CIBC Capital Markets are serving as financial advisors and Adrienne DiPaolo, Ebad Rahman, Mitch Frazer, Darryl Hiscocks, Andrew Gray, Molly Reynolds, Michelle Nelles, Teresa Reguly, Michael Fortier, Tom Zverina, Rose Bailey, Dany Assaf, Rebecca Wagner, Corrado Cardarelli and Gwen Watson of Torys LLP and William R. Kucera, Bill Kucera, Marc Sperber, Marina Aronchik, Debbie Hoffman, Bill Stallings, Meytal McCoy, Kim Leffert, David Saye and Cory Menees of Mayer Brown LLP are acting as legal advisors to George Weston. Scotiabank is serving as financial advisor and Joel E. Binder and Timothy Chubb of Stikeman Elliott LLP and Sean D. Rodgers, Martha L. Todd and Sean Rodgers, Kate Rainey Willson of Kirkland & Ellis LLP are acting as legal advisors to FGF. Richard Higa at McCarthy Tétrault LLP advised Scotiabank on the financing. FGF Brands Inc. completed the acquisition of Weston Foods Fresh and Frozen Bakery Businesses of George Weston Limited (TSX:WN) for CAD 1.1 billion on December 10, 2021. Prior to closing, purchase price was revised, including an adjustment to the working capital provisions as a result of seasonal fluctuations in inventory and accounts receivable.


© S&P Capital IQ 2021
All news about GEORGE WESTON LIMITED
05/20George Weston Limited Announces Normal Course Issuer Bid
MT
05/20GEORGE WESTON LIMITED (TSX : WN) announces an Equity Buyback for 7,304,927 shares, represe..
CI
05/20GEORGE WESTON LIMITED BRIEF : Announces Normal Course Issuer Bid
MT
05/20George Weston Limited Announces Normal Course Issuer Bid
AQ
05/20George Weston Limited authorizes a Buyback Plan.
CI
05/10George Weston Limited Announces Election of Directors
AQ
05/10George Weston Limited Announces Election of Directors
CI
05/10TRANSCRIPT : George Weston Limited - Shareholder/Analyst Call
CI
05/10GEORGE WESTON : Q1 Earnings Snapshot
AQ
05/10George Weston Posts Q1 Adjusted Diluted EPS of $1.90; Q1 Rev of $12.41 Billion; 10% Div..
MT
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Analyst Recommendations on GEORGE WESTON LIMITED
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Financials
Sales 2022 55 396 M 43 463 M 43 463 M
Net income 2022 1 348 M 1 058 M 1 058 M
Net Debt 2022 10 696 M 8 391 M 8 391 M
P/E ratio 2022 16,6x
Yield 2022 1,67%
Capitalization 22 587 M 17 721 M 17 721 M
EV / Sales 2022 0,60x
EV / Sales 2023 0,57x
Nbr of Employees 215 298
Free-Float 36,5%
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Mean consensus OUTPERFORM
Number of Analysts 8
Last Close Price 154,60 CAD
Average target price 173,25 CAD
Spread / Average Target 12,1%
EPS Revisions
Managers and Directors
Galen G. Weston Chairman & Chief Executive Officer
Richard Dufresne President & Chief Financial Officer
J. Robert S. Prichard Lead Independent Director
Barbara G. Stymiest Independent Director
Sarabjit S. Marwah Independent Director
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