Dover shareholders approve sale
February 03, 2009
by Eric Schroeder
BURLINGTON, ONT. — Shareholders of Dover Industries Ltd. on Jan. 30 voted to approve the sale of Dover to Parrish & Heimbecker, Ltd. The transaction, which was agreed to in early December, received a vote of approval from 99.88% of Dover shareholders present at a special meeting held Jan. 30.
Under terms of the agreement, Dover shareholders — other than Parrish & Heimbecker, which had a 25% stake in Dover — will receive $19.25 per common share.
Founded in 1909, Parrish and Heimbecker is involved in many aspect of agri-business, including grain procurement and merchandising, flour milling, animal feed production, poultry farming and poultry processing. The companies associated businesses include New-Life Mills Ltd., P&H Foods, Golden Valley Farms Inc., Cook’s, Ellison Milling Co., and Parrheim Foods.
Dover Industries operates flour mills in Ontario, Nova Scotia, Saskatchewan and Quebec, as well as a paper products division and ice cream cone and plastics plant in Ontario.