Shoppers Drug Mart Receives Court Approval in Connection with Proposed Plan of Arrangement with Loblaw Companies Limited

 Shoppers Drug Mart Receives Court Approval in Connection with Proposed Plan of  Arrangement with Loblaw Companies Limited  TORONTO, Sept. 16, 2013 /CNW/ - Shoppers Drug Mart Corporation (TSX: SC)  ("Shoppers Drug Mart") and Loblaw Companies Limited (TSX: L) ("Loblaw") today  announced that the Ontario Superior Court of Justice (Commercial List) has  issued a final order approving the previously announced proposed transaction  pursuant to which Loblaw will acquire all of the issued and outstanding common  shares of Shoppers Drug Mart by way of a plan of arrangement under section 192  of the Canada Business Corporations Act (the "Arrangement").  Completion of the Arrangement remains conditional on compliance with the  Competition Act (Canada) and certain other closing conditions customary in  transactions of this nature. Subject to the satisfaction or waiver of all  other conditions precedent to the Arrangement, it is anticipated that the  Arrangement will be completed before the end of the first quarter of 2014.  About Shoppers Drug Mart Corporation  Shoppers Drug Mart Corporation is one of the most recognized and trusted names  in Canadian retailing. Shoppers Drug Mart is the licensor of full-service  retail drug stores operating under the name Shoppers Drug Mart (Pharmaprix in  Québec). With 1,244 Shoppers Drug Mart and Pharmaprix stores operating in  prime locations in each province and two territories, Shoppers Drug Mart is  one of the most convenient retailers in Canada. Shoppers Drug Mart also  licenses or owns 57 medical clinic pharmacies operating under the name  Shoppers Simply Pharmacy (Pharmaprix Simplement Santé in Québec) and six  luxury beauty destinations operating as Murale. As well, Shoppers Drug Mart  owns and operates 62 Shoppers Home Health Care stores, making it the largest  Canadian retailer of home health care products and services. In addition to  its retail store network, Shoppers Drug Mart owns Shoppers Drug Mart Specialty  Health Network Inc., a provider of specialty drug distribution, pharmacy and  comprehensive patient support services; and MediSystem Technologies Inc., a  provider of pharmaceutical products and services to long-term care facilities.  For more information, visit  About Loblaw Companies Limited  Loblaw Companies Limited, a subsidiary of George Weston Limited, is Canada's  largest food retailer and a leading provider of drugstore, general merchandise  and financial products and services. Loblaw is one of the largest private  sector employers in Canada. With more than 1,000 corporate and franchised  stores from coast to coast, Loblaw and its franchisees employ approximately  134,000 full-time and part-time employees. Through its portfolio of store  formats, Loblaw is committed to providing Canadians with a wide, growing and  successful range of products and services to meet the everyday household  demands of Canadian consumers. Loblaw is known for the quality, innovation and  value of its food offering. It offers Canada's strongest control (private)  label program, including the unique President's Choice®, no name® and Joe  Fresh® brands. In addition, the Company makes available to consumers  President's Choice® financial services and offers the PC® points and PC  Plus™ loyalty program. For more information, visit Loblaw's website at and Loblaw's issuer profile at  Forward-looking Statements  Certain statements in this news release are forward-looking statements.  Forward-looking statements are provided for the purpose of presenting  information about management's current expectations and plans relating to the  future, and readers are cautioned that such statements may not be appropriate  for other purposes. These statements may include, without limitation,  statements regarding the operations, business, financial condition, expected  financial results, performance, prospects, opportunities, priorities, targets,  goals, ongoing objectives, strategies and outlook of Shoppers Drug Mart and  Loblaw. Forward-looking statements are typically identified by words such as  "expect", "anticipate", "believe", "foresee", "could", "estimate", "goal",  "intend", "plan", "seek", "strive", "will", "may" and "should" and similar  expressions. Forward-looking statements reflect current estimates, beliefs and  assumptions, which are based on Shoppers Drug Mart's and Loblaw's perception  of historical trends, current conditions and expected future developments, as  well as other factors management believes are appropriate in the  circumstances. Shoppers Drug Mart's and Loblaw's estimates, beliefs and  assumptions are inherently subject to significant business, economic,  competitive and other uncertainties and contingencies regarding future events  and as such, are subject to change. Shoppers Drug Mart and Loblaw can give no  assurance that such estimates, beliefs and assumptions will prove to be  correct.  This news releases contains forward-looking statements concerning the expected  completion date of the Arrangement. There can be no assurance that the  Arrangement will occur or that the anticipated strategic benefits and  operational, competitive and cost synergies will be realized. The Arrangement  is subject to various regulatory approvals, including approvals under the  Competition Act (Canada) and by the TSX, and the fulfillment of certain  conditions, and there can be no assurance that any such approvals will be  obtained and/or any such conditions will be met. The Arrangement could be  modified, restructured or terminated.  Readers are cautioned that the foregoing list of factors is not exhaustive.  Other risks and uncertainties not presently known to Shoppers Drug Mart or  Loblaw or that Shoppers Drug Mart or Loblaw presently believe are not material  could also cause actual results or events to differ materially from those  expressed in the forward-looking statements contained herein. Additional  information on these and other factors that could affect the operations or  financial results of Shoppers Drug Mart or Loblaw are included in reports  filed by Shoppers Drug Mart and by Loblaw with applicable securities  regulatory authorities and may be accessed through the SEDAR website  (  Readers are cautioned not to place undue reliance on these forward-looking  statements, which reflect Shoppers Drug Mart's and Loblaw's expectations only  as of the date of this news release. Shoppers Drug Mart and Loblaw disclaims  any obligation to update or revise any forward-looking statements, whether as  a result of new information, future events or otherwise, except as required by  law.    SOURCE  Shoppers Drug Mart Corporation  For further information for Shoppers Drug Mart:  Media Contact: Tammy Smitham  Vice President, Communications & Corporate Affairs (416) 490-2892  Investor Relations: (416) 493-1220, ext. 5678  For further information for Loblaw:  Media Contact: Julija Hunter Vice President, Public Relations (416) 509-7804   Investor Relations: Jonathan Ross Director, Investor Relations (905) 861-2153  To view this news release in HTML formatting, please use the following URL:  CO: Shoppers Drug Mart Corporation ST: Ontario NI: RET LAW VERDICTS LAWVIEWS  
Press spacebar to pause and continue. Press esc to stop.