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BRIEF-Tree Island Says Futura Corp, Arbutus Distributors Withdraw Their Proposal For Co's Shares

Published 2019-08-31, 04:13 p/m
BRIEF-Tree Island Says Futura Corp, Arbutus Distributors Withdraw Their Proposal For Co's Shares
TSL
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Aug 31 (Reuters) - Tree Island Steel Ltd TSL.TO :

* THE FUTURA CORPORATION AND ARBUTUS DISTRIBUTORS LTD. WITHDRAW THEIR NON-BINDING UNSOLICITED PROPOSAL FOR TREE ISLAND'S SHARES

* TREE ISLAND STEEL - BECAUSE OF WITHDRAWAL OF PROPOSAL BY OFFERORS, ENGAGEMENT OF FINANCIAL ADVISOR TO PREPARE FORMAL VALUATION OF CO BEEN TERMINATED

* TREE ISLAND STEEL-SPECIAL COMMITTEE OF CO'S BOARD ADVISED BY FUTURA CORP AND ARBUTUS DISTRIBUTORS LTD OF WITHDRAWAL OF THEIR UNSOLICITED PROPOSAL

* SPECIAL COMMITTEE HAS NOW BEEN DISSOLVED

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