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.
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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