Agriculture Roundup for Tuesday December 8, 2020
MELFORT, Sask. – Rocky Mountain Dealerships shareholders are being asked to vote in favour of a go-private arrangement after no other proposals were made during a 35-day solicitation process.
The Calgary-based farm equipment company has called a virtual special meeting for Dec. 17 where investors can vote to sell each share they own for $7 to a numbered company controlled by board chair Matthew Campbell and CEO Garrett Ganden.
The company is valued at $135 million and has 36 locations in Alberta, Saskatchewan, and Manitoba.
Adviser RBC Capital Markets contacted 49 potential buyers during the solicitation process. Although six signed confidentiality agreements to view non-public information none made an alternative offer.