CALGARY – Leon’s Furniture Ltd. (TSX:LNF) and The Brick Ltd. (TSX: BRK) say a key hurdle has been overcome in Leon’s plan to take over its rival.
Both companies say the Commissioner of Competition has issued a “no-action” letter, meaning the deal won’t be challenged before the Competition Tribunal.
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The company’s say the Leon’s takeover of The Brick is now expected to close on March 28.
The Brick’s shareholders and warrantholders voted overwhelmingly to approve a takeover offer from Leon’s, which announced the friendly deal in November.
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