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    RECP   CA75622P1045

RECIPE UNLIMITED CORPORATION

(RECP)
  Report
Delayed Toronto Stock Exchange  -  04:00 2022-10-03 pm EDT
20.62 CAD    0.00%
09/27Recipe Unlimited Gets Interim Order, Files Shareholder Meeting Materials in Respect of Acquisition by Fairfax
MT
09/26Recipe unlimited announces receipt of interim order and filing of special meeting materials in respect of arrangement with fairfax
AQ
09/01Toronto Stocks Tumble; Turquoise Hill Jumps on Rio Tinto Acquisition Deal
DJ
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Canada's Fairfax proposes C$1.2 billion takeover bid for Recipe

08/09/2022 | 10:55am EDT
A man walks past a Fairfax Holdings sign directing shareholders to the meeting, at the annual general meeting for shareholders in Toronto

(Reuters) - Recipe Unlimited Corp said on Tuesday shareholder and investment firm Fairfax Financial Holdings Ltd has proposed to take the Canadian restaurant operator private for C$1.23 billion ($954 million), sending its shares up nearly 50%.

The offer price marks a premium of more than 53% to Recipe's last close. The shares have fallen 24% this year on broader market weakness following monetary tightening by central banks across the world.

Buyout firms have doubled down on take-private dealmaking opportunities as lower valuations make it easier to lure businesses away from the stock market at bargain prices.

These firms spent a record $226.5 billion on such transactions around the world in the first half of 2022, up 39% from the same period last year, Dealogic data shows.

Recipe said it had entered into a letter of intent with Fairfax, adding its board would recommend shareholders vote in favor of a takeover once the deal was finalized.

Founded in 1883, Vaughan, Canada-based Recipe operates brands such as Kelseys, East Side Mario's and New York Fries. As of June-end, the company had over 1,200 restaurants in Canada, the United States, Saudi Arabia, India and the United Arab Emirates.

Investment bank Greenhill & Co Canada Ltd was advising Recipe on the deal.

($1 = 1.29 Canadian dollars)

(Reporting by Niket Nishant in Bengaluru; Editing by Shinjini Ganguli)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
FAIRFAX FINANCIAL HOLDINGS LIMITED -0.05% 630.58 Delayed Quote.1.39%
GREENHILL & CO., INC. 2.86% 6.11 Delayed Quote.-65.92%
RECIPE UNLIMITED CORPORATION 0.00% 20.62 Delayed Quote.16.37%
All news about RECIPE UNLIMITED CORPORATION
09/27Recipe Unlimited Gets Interim Order, Files Shareholder Meeting Materials in Respect of ..
MT
09/26Recipe unlimited announces receipt of interim order and filing of special meeting mater..
AQ
09/01Toronto Stocks Tumble; Turquoise Hill Jumps on Rio Tinto Acquisition Deal
DJ
09/01Fairfax Financial signs definitive deal to take Recipe Unlimited private
AQ
09/01Recipe unlimited enters into definitive agreement with fairfax
AQ
08/10Recipe Unlimited Downgraded to Market Perform at BMO
MT
08/09Fairfax Financial Holdings Ltd. proposes taking Recipe Unlimited Corp. private
AQ
08/09Canada's Fairfax proposes C$1.2 billion takeover bid for Recipe
RE
08/09Recipe Unlimited Enters Into Letter of Intent With Fairfax; Involves Purchase Price of ..
MT
08/09Recipe Unlimited Brief: Enters Into Letter of Intent With Fairfax..
MT
More news
Analyst Recommendations on RECIPE UNLIMITED CORPORATION
More recommendations
Financials
Sales 2022 1 279 M 938 M 938 M
Net income 2022 - - -
Net Debt 2022 297 M 217 M 217 M
P/E ratio 2022 -
Yield 2022 -
Capitalization 1 213 M 890 M 890 M
EV / Sales 2022 1,18x
EV / Sales 2023 1,07x
Nbr of Employees 17 500
Free-Float 22,9%
Chart RECIPE UNLIMITED CORPORATION
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Recipe Unlimited Corporation Technical Analysis Chart | MarketScreener
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Technical analysis trends RECIPE UNLIMITED CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 2
Last Close Price 20,62 CAD
Average target price 19,82 CAD
Spread / Average Target -3,88%
Managers and Directors
Frank Hennessey Chief Executive Officer & Director
Kenneth J. Grondin Chief Financial Officer
Paul C. Rivett Chairman
Stephen K. Gunn Independent Director
Christopher D. Hodgson Independent Director
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