Antarctica Advisors Acts as Investment Banking Advisor to Clearwater Seafoods Inc. in its sale to Premium Brands Holdings and Mi’kmaq First Nations Coalition
November 11, 2020. Clearwater Seafoods Inc. (TSX:CLR) has entered into a definitive agreement with a coalition of Mi’kmaq First Nations and Premium Brands Holdings Corp (TSX:PBH) for the acquisition of all of the issued and outstanding common shares of Clearwater and the units issued under various equity compensation plans for $8.25 per share in a transaction valued at approximately C$ 1.0 billion, including debt. The transaction price represents a 60.2% premium to Clearwater’s average volume-weighted price for the 20-day period preceding the strategic review announcement on March 5, 2020. The transaction is expected to close in the first quarter of 2021 following the completion of pending shareholder and regulatory approvals.