Overview
- Thunderbird shareholders will receive C$1.77 per share, representing a 28% premium to the prior close.
- The Thunderbird board is recommending the sale, with CEO Jennifer Twiner McCarron abstaining from the vote.
- Blue Ant forecasts approximately C$7 million in annual cost synergies from the combination.
- On completion, Twiner McCarron will lead a combined kids, young adult and animation unit within Blue Ant Studios, one Thunderbird director will join Blue Ant’s board, and pro forma ownership would be about 79% Blue Ant and 21% Thunderbird if investors keep stock.
- Blue Ant says it negotiated directly with no competing bids, extending a deal-making streak that includes a Boat Rocker RTO and the MagellanTV acquisition.