Astral Media Inc. today announced that the Québec Superior Court has approved the previously announced acquisition of all of the issued and outstanding shares of Astral by BCE Inc. pursuant to a plan of arrangement under section 192 of the Canada Business Corporations Act. The Québec Superior Court declared that the Arrangement is fair to shareholders of Astral.
It is anticipated that the Arrangement will be completed in the second half of 2024, subject to, without limitation, required regulatory approvals. Once there is more certainty as to when the Arrangement is expected to be completed, shareholders of Astral will receive a letter of transmittal and election form explaining how they may deposit and obtain payment for their shares of Astral once the Arrangement is completed.