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BRIEF-Savaria Corporation to acquire Span-America Medical Systems Inc.
May 1, 2017 / 7:44 PM / 7 months ago

BRIEF-Savaria Corporation to acquire Span-America Medical Systems Inc.

May 1 (Reuters) - Savaria Corp

* Savaria Corporation to acquire Span-America Medical Systems, Inc.

* Terms and conditions of transaction were unanimously approved by boards of directors of each of Savaria and Span-America

* Transaction is immediately accretive by more than 30 pct to Savaria’s ttm free cash flow per share

* Savaria has entered into an agreement with National Bank Financial and GMP Securities L.P. To sell 2 million subscription receipts

* If conditions to deal not satisfied by Sept 1, gross proceeds of offering will be returned to holders of subscription receipts with interest

* Savaria is also reaffirming its full year 2017 outlook provided on March 6, 2017 Source text for Eikon: Further company coverage:

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