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CanWest’s purchase of AA clears Competition Board

Briefs | 04/24/2007 1:51 pm EDT

On April 23, Alliance Atlantis Communications Inc. issued a terse, one-paragraph press release announcing that its proposed sale to CanWest Global Communications Corp. had passed a review by the Competition Bureau of Canada. The deal – which would see CanWest Global acquire all outstanding shares in Alliance Atlantis for $53 each – still needs the approval of the CRTC. A motion to block the takeover put forward by the Movie Distribution Fund, which is 50% owned by Alliance Atlantis, will also be heard by the Ontario Superior Court next month. The fund believes any acquisition of its part-owner requires its approval.

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