Bird secures key approvals to acquire Stuart Olson

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Bird Construction Inc. announced the receipt of key approvals in regards to the proposed acquisition of Stuart Olson Inc. At a special meeting of Stuart Olson shareholders held on September 17, 2020, Stuart Olson shareholders voted in support of the Arrangement Agreement, with 94.84% of Stuart Olson shareholder votes cast at the meeting in support. As well, the Senior Secured Lenders and Debentureholders of Stuart Olson unanimously approved the Transaction.

Following Stuart Olson's respective security holder meetings, Stuart Olson obtained a final order from the Court of Queen's Bench of Alberta in respect of the Transaction.

The Transaction, which was unanimously approved by the Boards of Directors of both companies, was planned to close September 25, 2020.

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