Titanium Transportation Completes Management Buyout, Goes Private

Titanium Transportation Group has finalized its take-private transaction, with the sale closing on March 31. The management-backed buyer, TTNM Management Acquisition Ltd., acquired the Bolton, Ontario-based transportation and logistics company at $2.22 per share. Key Details Shareholders approved the transaction during a special meeting on March 10, followed by Ontario Superior Court of Justice approval on March 18. All issued and outstanding common shares were acquired, excluding those held by rollover shareholders. What's Next Titanium is now exiting public markets, with its shares expected to be delisted from the Toronto Stock Exchange by April 2. The company will also apply to cease being a reporting issuer under Canadian securities laws. Payment Information Registered shareholders must submit required documentation to the company's depositary to receive their $2.22 per share payment. Those holding shares through brokers or intermediaries should work with those firms to process the transaction.