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Invesque Inc., a TSX-listed North American health care real estate company, entered into an arrangement agreement on October 1, 2026 with a special purpose entity managed by its controlling shareholder, Magnetar Financial LLC. The purchaser will acquire all common shares other than substantially all of those held by Magnetar-managed funds, for US$0.101 per share in cash. That is approximately 68 percent above the September 29, 2026 closing price and approximately 30 percent above the 20-day volume-weighted average price. Magnetar-managed funds hold 731,433,131 shares, approximately 80.1 percent of the outstanding shares. The transaction is a plan of arrangement under the Business Corporations Act (British Columbia). The purchaser will then amalgamate with Invesque, leaving the purchaser and certain Magnetar funds as sole shareholders. Invesque will delist from the TSX and expects to cease being a reporting issuer. Completion requires approval of the Supreme Court of British Columbia, two-thirds shareholder approval, and a majority-of-the-minority vote under MI 61-101 that excludes Magnetar funds and certain management shares. The shareholder meeting is expected on or before November 20, 2026. Closing is expected by the end of 2026, with an outside date of January 31, 2027. A special committee of independent directors, advised by Doane Grant Thornton LLP on valuation and fairness, unanimously recommended the deal. Borden Ladner Gervais LLP is the company's legal advisor and Stikeman Elliott LLP is Magnetar's. Invesque holds four senior housing properties and a loans receivable portfolio.
Parties
Company
Invesque Inc.
Company
Magnetar Financial LLC
Deal Type
Merger & AcquisitionIndustry
HealthcareTransaction
Undisclosed/ConfidentialDeal Status
ActiveClosing Date