Aimia's largest shareholder plans takeover bid for company

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Aimia's largest shareholder plans takeover bid for company
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TORONTO — The largest shareholder of Aimia Inc. says it has become disillusioned and frustrated by the company's board and management team, so it plans to make a bid to take Aimia private in a deal that values the company at about $308 million.

Under the proposal, Mithaq Canada Inc., a wholly-owned subsidiary of Mithaq Capital SPC, says it will offer $3.66 per share in cash for the stake in Aimia it does not already own.

Mithaq is a segregated portfolio company and affiliate of Mithaq Holding Co., a family office based in Saudi Arabia.The company voted against the re-election of the company's board of directors at its annual meeting earlier this year.The Canadian Press

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