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BRIEF-Chemtrade responds to Canexus directors' circular

Published 2016-10-24, 07:42 a/m
© Reuters.  BRIEF-Chemtrade responds to Canexus directors' circular
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Oct 24 (Reuters) - Chemtrade Logistics Income Fund CHE_u.TO

* Chemtrade responds to Canexus directors' circular

* Canexus board urged to shorten minimum offer period and let shareholders decide in response by Chemtrade

* Chemtrade's offer "fairly values Canexus and provides canexus shareholders with a significant cash premium"

* Chemtrade says it believes that Canexus' standalone plan does not offer a credible alternative path to maximizing value for Canexus shareholders

* Chemtrade says Canexus' estimate of $25 million of annual capital expenditures is wholly insufficient to adequately maintain assets

* Believes "offer has significantly less regulatory risk than terminated" deal between canexus and superior plus Source text for Eikon: Further company coverage: CHE_u.TO

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