ISC Shareholders and Court Approve All-Cash Take-Private by Plenary Americas

Key Facts

1Shareholders of Information Services Corporation (ISC) approved an all-cash transaction at CAD$51.00 per share by a wholly-owned subsidiary of Plenary Americas LP.

2The transaction also received court approval under The Business Corporations Act, 2021 (Saskatchewan).

Amid a wave of acquisition activity in North American markets, Information Services Corporation (ISC) announced that its shareholders approved an all-cash transaction at CAD$51.00 per share from a wholly-owned subsidiary of Plenary Americas LP. The transaction also received court approval under The Business Corporations Act of Saskatchewan, according to reports.

The deal represents a take-private at a premium to the pre-announcement stock price. It aligns with Plenary Americas' strategy to expand into the information services and registry sector in Canada, as ISC manages land and business registries in Saskatchewan.

The transaction is expected to close in the coming weeks after satisfying remaining conditions. The stock is expected to trade near the CAD$51.00 offer price until completion. No major economic events are anticipated to affect the deal's timeline.