Exco Technologies Limited (Exco), which produces precision-engineered tooling for industrial markets, and TecSyn International Inc. (TecSyn), which is a leading supplier of automotive restraint products, announced on August 11, 2000 that the shareholders of TecSyn have approved Exco’s friendly take-over bid for TecSyn. The proposed transaction is to be implemented by an amalgamation between TecSyn and Exco Acquisition Limited, a wholly owned subsidiary of Exco, for a cash price of $2.70 per TecSyn share.
Torys is acting for Exco with a team that includes Herman Wilton-Siegel, Kevin Morris, David Seville, Sarah Lerchs, and Chris Medland on employment matters. Bill Orr of Heenan Blaikie acted for the independent committee of TecSyn. Paul Riganelli, Vice-President Administration and General Counsel acted for TecSyn.