Shoppers Drug Mart Receives Court Approval of Proposed Plan with Loblaw Companies Limited

Shoppers Drug Mart Corporation  and Loblaw Companies Limited announced that the Ontario Superior Court of Justice has issued a final order approving the previously announced proposed transaction pursuant to which Loblaw will acquire all of the issued and outstanding common shares of Shoppers Drug Mart by way of a plan of arrangement under section 192 of the Canada Business Corporations Act.
Completion of the Arrangement remains conditional on compliance with the Competition Act (Canada) and certain other closing conditions customary in transactions of this nature. Subject to the satisfaction or waiver of all other conditions precedent to the Arrangement, it is anticipated that the Arrangement will be completed before the end of the first quarter of 2014.

on September 16, 2013