[Satnews] COM DEV International Ltd. (TSX:CDV) announced the company has received a final order from the Ontario Superior Court of Justice (Commercial List) approving its plan of arrangement (the "Arrangement") contemplated by the arrangement agreement among COM DEV, Honeywell Limited/Honeywell Limitée and Honeywell International Inc. entered into on November 5, 2015.
Under the terms of the Arrangement, each COM DEV Shareholder will receive an initial cash payment of $5.125 per Common share, and 0.1977 of an exactEarth share (subject to adjustment). Each Shareholder will be eligible to receive a second payment of up to $0.125 per Common Share.
Subject to the satisfaction or waiver of customary closing conditions, COM DEV currently anticipates that the Arrangement will become effective on or about February 4, 2016.
Full details of the Arrangement and certain other matters are set out in COM DEV's management information circular dated December 21, 2015, and available on SEDAR at http://ww.sedar.com or on COM DEV's website at http://www.comdev.ca/investors.