A Canadian publishing firm agreed to buy Cordura.
International Thomson Organisation Ltd. (ITOL), based in Toronto, said it will pay $35 a share in cash for Cordura, a Los Angeles-based concern that publishes auto repair and insurance manuals. The total value of the deal is about $203 million, the two companies said. Directors of both firms have approved the merger. ITOL also said it has an additional agreement to buy about 1 million newly issued common shares of Cordura “in certain circumstances.” The firms declined to comment on the apparent lockup provision.
More to Read
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.