Acquisition of Coreco completed

CANADIAN-BASED Coreco Inc. has announced that Dalsa Corporation has successfully acquired all of its issued and outstanding securities pursuant to the previously announced Plan of Arrangement. 
 
Coreco shareholders will receive for each common share of Coreco, at their election, either (a) 0.5207 of a Dalsa common share; (b) $10.00 in cash; or (c) a combination of cash and Dalsa common shares, subject to a maximum of $35 million in cash available for election. Upon closing Dalsa issued approximately 1.9 million Dalsa common shares and paid $35 million in cash for 100% of the Coreco common shares.
 
Due to proration, shareholders who elected to receive cash will receive a cash payment of approximately $7.44 cash per share and 0.13 of a Dalsa common share for each Coreco common share. Shareholders who did not elect cash or elected share consideration will receive 0.5207 of a Dalsa common share for each Coreco common share. The total consideration paid by Dalsa was approximately $73.4 million, comprised of $35 million in cash and the issue by Dalsa of an aggregate of approximately 1.9 million Dalsa common shares.