Jaguar announces intention to tender to Gerber bid
Jaguar Financial Corporation announced that it intends to tender its common shares of Virtek Vision International Inc. to the take-over bid of Gerber Scientific Canada Inc., a subsidiary of Gerber Scientific Inc., dated September 12, 2008.
In response to Jaguar’s request for access to perform a due diligence review in connection with its proposed take-over bid, Virtek insisted Jaguar agree to a standstill covenant in the non-disclosure agreement that, in Jaguar’s opinion, was highly inappropriate in the circumstances. The Virtek response, which effectively precluded Jaguar from obtaining access to due diligence materials, and the reaffirmation by Gerber to acquire Virtek announced in its October 8 press release, led Jaguar to conclude that tendering to the Gerber bid was in its best interests.
Jaguar is a Canadian merchant bank that invests in undervalued small capitalization companies in a variety of industry sectors
