Toromont Industries Ltd. (TSX: TIH) has made a proposal to Enerflex Systems Income Fund. The proposal was for a business combination with Toromont where holders of the trust units of Enerflex would receive cash and shares of Toromont valued at $13.50 per unit. The offering would be comprised of at least 50% cash with the balance in common shares. Unitholders could elect to receive either $13.50 in c ash or a fixed number of Toromont common shares.
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Toromont Industries Ltd. operates through two business segments: The Equipment Group and the Compression Group. The Equipment Group includes one of the larger Caterpillar dealerships by revenue and geographic territory in addition to industry leading rental operations. The Compression Group is a North American leader specializing in the design, engineering, fabrication, and installation of compression systems for natural gas, coal-bed methane, fuel gas and carbon dioxide in addition to process systems and industrial and recreational refrigeration systems.
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