BAT bid for Imasco faces lawsuit
Saturday 21 August 1999
The suit, filed on behalf of a class of plaintiffs, also claims damages of C$1.26bn. Don Lebans, a lawyer representing the plaintiff, said the award was based on the difference between BAT's offer and the amount that analysts suggest the company is worth. Imasco said it would vigorously defend itself against the lawsuit, which it described as having "no merit" and containing "manifest errors". The group said that its board was committed to "obtaining the best achievable price for the Imasco public shareholders".
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