VALCOURT, QUEBEC, CANADA – March 30, 2022 – (Motor Sports NewsWire) – BRP Inc. (TSX: DOO, NASDAQ: DOOO) today announced the terms of its previously announced substantial issuer bid (the “Offer“) pursuant to which BRP plans to offer to purchase for cancellation up to $250 million of its subordinate voting shares (the “Shares“). All dollar amounts are in Canadian dollars.
The Offer will proceed by way of a “modified Dutch auction”. Holders of Shares and multiple voting shares wishing to tender to the Offer will be entitled to do so (i) by making an auction tender for a specified number of Shares at a price of not less than $103.00 and not more than $123.00 per Share in increments of $0.25 per Share; or (ii) by making a purchase price tender without specifying a price per Share, but rather agreeing to have a specified number of Shares purchased at the purchase price to be determined by the auction tenders. Shareholders who validly deposit Shares or multiple…
Click Here to Read the Full Original Article at Motor Sports NewsWire…