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Reject Shop Limited ( (AU:TRS) ) just unveiled an announcement.
The Reject Shop Limited announced that its shareholders have overwhelmingly approved a proposed acquisition by Dollarama Inc., a Canadian retail company, through a scheme of arrangement. With 97.30% of shareholders present voting in favor and 99.98% of the votes cast supporting the resolution, the scheme is set to proceed pending court approval. If approved, the Reject Shop’s shares will be suspended from trading on the ASX, and shareholders will receive a special dividend and scheme consideration. This acquisition is expected to significantly impact the company’s operations and market positioning, potentially enhancing its competitive edge in the retail sector.
The most recent analyst rating on (AU:TRS) stock is a Hold with a A$3.70 price target. To see the full list of analyst forecasts on Reject Shop Limited stock, see the AU:TRS Stock Forecast page.
More about Reject Shop Limited
The Reject Shop Limited operates in the retail industry, focusing on discount variety stores. It offers a wide range of general consumer merchandise, including everyday essentials and seasonal products, primarily targeting budget-conscious customers in Australia.
YTD Price Performance: 142.79%
Average Trading Volume: 198,958
Technical Sentiment Signal: Buy
Current Market Cap: A$248.5M
For an in-depth examination of TRS stock, go to TipRanks’ Overview page.