(September 13 – 15:30 ET) – La Confédération des caisses populaires et d’économie Desjardins du Québec (Confédération) says that its offer for the Class A subordinate shares of Desjardins-Laurentian Financial Corp. has been successful.

The Confédération says day that an estimated 7 million Class A subordinate shares of DLFC were deposited pursuant to its offer. The offer, announced on August 2, expired on September 12. The offer was for $23.50 a share, payable in cash, in a deal worth approximately $180 million.

The conditions for concurrent offer for Class B shares have not been met. The Confédération says will extend the Class B offer to September 25.
-IE Staff