TORONTO — Shares of Park Lawn Corp. soared nearly 60 per cent in early trading after the company announced a plan to be taken private in an agreement valued at about $1.2 billion, including debt.
The agreement, which has been unanimously recommended by the Park Lawn board of directors, requires approval by a two‐thirds majority vote by shareholders.John Nies, chair of Park Lawn's special committee which reviewed the proposal, said the transaction is in the best interests of Park Lawn and fair to the company's shareholders.
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