Mill Road Capital to Privatize Cossette in Partnership with Management

http://finance.yahoo.com/news/UPDATE-In-a-transaction-at-cnw-68221603.html?x=0&.v=2
Under the terms of the Agreement, Mill Road will acquire all of the issued and outstanding subordinate voting shares of the Company (the "Shares") for a consideration of $7.87 per share in cash, other than the shares of Senior Management Shareholders (as defined below). The transaction is not conditional on financing or due diligence.
The all-cash consideration of $7.87 per Share represents a premium of approximately 40% to the volume-weighted average trading price of the Shares for the past 20 trading days, 50% over Cosmos Capital Inc.'s ("Cosmos") offer price of $5.25 per Share of October 30, 2009 and 142% over the unaffected share price of $3.25 on July 17, 2009, the last trading day prior to Cosmos announcing its unsolicited and non-binding proposal to acquire all outstanding Shares at a price of $4.95 per Share on July 20, 2009.

"We are very pleased with this transaction for many reasons: it better reflects Cossette's true value and exemplifies our commitment to maximize value for all our shareholders," commented Claude Lessard, Cossette's Chairman of the Board, Chief Executive Officer and President. "Furthermore, it is occurring with a strategic partner that has already proven its respect for our organization, our brand and our people, and it ensures total continuity with our trusted clients who have supported us throughout this process. This transaction is fully supported by the senior management team."

Thomas Lynch, Senior Managing Director of Mill Road added, "Cossette is an outstanding brand in the communications sector and a great company. We are very pleased to partner with the management team who has our full support in deploying their strategic plan."

As a private company, Cossette will continue to be led by Claude Lessard and his current senior management team, and maintain its focus on providing best-in-class marketing and communications services to its global roster of clients.