Sleep Country Shareholders Approve $1.7 Billion Sale to Fairfax Financial

The acquisition will see Sleep Country delist from the Toronto Stock Exchange and aims to unlock shareholder value amid economic challenges.

Sleep Country Holdings Inc. shareholders have approved the sale to Fairfax Financial Holdings Ltd. for $1.7 billion.
Fairfax Financial will acquire all issued and outstanding common shares of Sleep Country at $35 per share.
The deal received necessary approvals from the Ontario Superior Court of Justice and the Commissioner of Competition.
The sale is expected to close in the fourth quarter, after which Sleep Country will delist from the Toronto Stock Exchange.
CEO Stewart Schaefer expressed satisfaction with the approval, stating that the agreement will unlock shareholder value despite macroeconomic headwinds.