Montreal: Corus Entertainment and a subsidiary have acquired 97.7% of Nelvana’s outstanding subordinate voting shares.

Corus says the buyout offer’s cash option was oversubscribed, resulting in 74.9% of the shares of each Nelvana shareholder who elected the cash option being purchased for $48 cash. The remaining 25.1% of shares acquired under the cash option were purchased for $0.05 and 1.147 Corus class b non-voting shares. The price for Corus class b non-voting shares paid to Nelvana shareholders electing the share option, effective Nov. 9, was $41.80. *

-www.corusent.com

-www.nelvana.com