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BRIEF-Morneau Shepell Announces Acquisition Of Lifeworks Corp For About C$426 Mln

Published 2018-07-09, 03:49 p/m
BRIEF-Morneau Shepell Announces Acquisition Of Lifeworks Corp For About C$426 Mln
LWRK
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July 9 (Reuters) - Morneau Shepell Inc MSI.TO :

* MORNEAU SHEPELL ANNOUNCES ACQUISITION OF LIFEWORKS CORPORATION LTD. AND CONCURRENT $210 MILLION EQUITY OFFERING

* MORNEAU SHEPELL INC - DEAL FOR TOTAL PURCHASE PRICE OF APPROXIMATELY $426 MILLION (US$325 MILLION)

* MORNEAU SHEPELL INC - SIGNIFICANT RUN-RATE SYNERGIES OF APPROXIMATELY $10 MILLION IN 2019 AND APPROXIMATELY $15 MILLION PER YEAR BY 2020 FROM DEAL

* MORNEAU SHEPELL INC - DEAL TO BE OVER 10 PER CENT ACCRETIVE TO 2019 EARNINGS PER SHARE

* MORNEAU SHEPELL INC - IN ADDITION, COMPANY WILL ISSUE APPROXIMATELY $31 MILLION OF SHARES TO LIFEWORKS EXECUTIVES

* MORNEAU SHEPELL - TO ACQUIRE ALL OUTSTANDING SHARES OF LIFEWORKS CORP FOR TOTAL PURCHASE PRICE OF ABOUT $426 MILLION, PAYABLE IN CASH & CO'S SHARES

* MORNEAU SHEPELL INC - NATIONAL BANK OF CANADA HAS COMMITTED TO PROVIDE UP TO A $600 MILLION FIVE-YEAR REVOLVING CREDIT FACILITY

* MORNEAU SHEPELL - BALANCE OF DEAL TO BE FINANCED PURSUANT TO AMENDED & RESTATED CREDIT FACILITY ARRANGED BY NATIONAL BANK FINANCIAL

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