Sobeys Shareholders OK Private Transaction

Shareholders of Sobeys have voted to approve the offer from parent company Empire Cos. to buy the shares it did not already own and take the retailer private.

STELLARTON, Nova Scotia — Shareholders of Sobeys here have voted to approve the offer from parent company Empire Cos. to buy the shares it did not already own and take the retailer private. Empire, which is 60% controlled by members of the Sobey family, will buy the shares for $58 Canadian each. Empire previously owned around 72% of the Sobeys’ outstanding shares.

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