Proxy advisory firm International Shareholder Services recommended that Street Capital Group Inc. shareholders approve RFA Capital Holdings Inc.'s all-cash offer for the company's entire share capital.
Under a June 17 plan of agreement, RFA Capital could acquire all of Street Capital's share capital for C$85 million in cash. This represents value for investment at a significant premium and certainty of immediate liquidity, International Shareholder Services said in an Aug. 12 release.
The offer is subject to shareholder approval at a special meeting Aug. 16, with the plan of arrangement subject to customary closing conditions.
