Husky announces revised offer from Onex

Bolton, Ont.-based Husky Injection Molding Systems Ltd. and private equity investment firm Onex Corporation, along with Robert and Elizabeth Schad, have agreed to amend the price being offered by Onex for the purchase of Huskys common shares.

According to Husky, the offer price of all common shares is now $8.235 per share for those held by all shareholders other than the Schads and their holding company, and $8.10 per share for the shares held by the Schads and their holding company.

Husky, Toronto-based Onex and the Schads had previously agreed that Onex would offer to purchase all the Husky shares for a price of $8.18 per share. The new split price offer amounts to the same aggregate consideration of approximately $960 million for the acquisition of Husky.

According to Husky, the Schads advised the companys Board of Directors that they had agreed to accept the lower price in order that public shareholders could receive a price that was closer to Robert Schad’s target price for Husky.