Avion Group has extended until October 6 its $574 million Canadian (US $512 million) bid for Atlas Cold Storage Income Trust. The Iceland-based investment firm said it was attempting to terminate Atlas’ shareholder rights plan.
The offer for Atlas, ranked as the second-largest operator of frozen storage warehouses in North America, had been set to lapse September 22.
Atlas has spurned the bid of $7 per share Canadian as insufficient and has been seeking alternatives for its shareholders.
Terming its offer "full and fair," Avion said it planned to request Ontario securities regulators to conduct a hearing on the bid.
