07162020Thu
Last updateThu, 16 Jul 2020 3pm

Valve Manufacturing

Powercomm Withdraws Takeover Offer for Unified Valve After Due Diligence

PowerComm Inc. said Friday it was cancelling its planned takeover of Unified Valve Ltd. after completing its due diligence.

"Although our strategic plan is for continued growth we must be cognizant of delivering accretive solutions to our shareholders and in the case of Unified Valve Ltd., our companies were unable to agree on revised terms based on the recent economic situation," said Wayne Rutherford, PowerComm's President and CEO.

Source: Canadian Press

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