Shareholders of Canadian shellfish harvesting and processing giant Clearwater Seafoods on Thursday approved the sale of the company to Premium Brands Holdings and a coalition of Mi’kmaq First Nations.
The deal, announced in November, was approved on an almost unanimous vote at a special meeting of shareholders, Clearwater said Thursday.
If the transaction closes after Jan. 29, but on or before April 30, shareholders will receive CAD 8.30 ($6.54/€5.33) in cash per Clearwater common share.
The combined seafood operations of Clearwater, Premium Brands and the participating communities is expected to generate more than CAD1.3 billion ($1 billion/€835 million) in annual sales, with the majority of Clearwater's sales, approximately 89 percent, outside of Canada.
Clearwater said at the time it was undertaking the review because it had received "several expressions of interest," the company said.