The non-binding proposal from
The two Trilogy firms are personal holding companies of Schwartz, the
Through the Trilogy firms, Schwartz is the controlling shareholder of Indigo. He owns around 56 per cent of the company's issued and outstanding common shares, while another 4.6 per cent belong to Reisman through a different holding company.
Trilogy says the offer represents a 50 per cent premium over Indigo's closing price on the last day of January.
It says it's not interested in selling any of its shares.
Indigo announced layoffs earlier this year as part of the retailer's ongoing efforts to streamline its operations.
Indigo spokeswoman
The company has seen several quarters of financial losses as well as a number of changes to its executive and board of directors over the last year.
Most recently, the company reported a net loss of
Ruis left the company abruptly in September, making way for Reisman to return.
Shares in Indigo closed Thursday down 1.33 per cent at
The retailer will report its financial results for the quarter ended
This report by The Canadian Press was first published
Companies in this story: (TSX:IDG)
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