SMART Technologies has been acquired for a cash payment of $4.50 per Common Share by Foxconn Technology Group.
The agreement provides for the implementation of the arrangement by means of a plan of arrangement under the Business Corporations Act of Alberta. The Arrangement Agreement contains customary representations and warranties of each party, non-solicitation and interim operations covenants by SMART, and right to match provisions in favour of Foxconn. The arrangement is subject to customary conditions for a transaction of this nature, which include court and regulatory approvals and the approval of two thirds of the votes cast by SMART shareholders at a meeting to be called to consider the Arrangement (the "Special Meeting").
