CALGARY, Alta. — Trimac shares were up nearly 10% Monday after the company announced it has received a proposal from its principal shareholder, Trimac Holdings, to privatize the company.
The deal would equate to $6.25 per share for shareholders. Trimac Holdings is indirectly controlled by Jeffrey McCaig, chairman of Trimac. He and his family collectively control about 65% of outstanding Trimac shares.
The company advises that there’s no assurance its Board of Directors will recommend the proposed transaction proceed.