Weyburn Inland Terminal will hold a February 28 meeting of the shareholders to consider passing a resolution approving the arrangement with Parrish & Heimbecker Limited.
WIT received an interim order of the Court of Queen's Bench of Saskatchewan authorizing and directing WIT to call, hold and conduct a special meeting of the WIT shareholders.
An information circular containing the relevant information about the arrangement will be mailed to the shareholders in connection with the meeting.
"We are happy to be proceeding to the shareholders meeting," said WIT President Claude Carles. "There has been very strong support for the cash consideration of $17.25 per share, and farmers and shareholders we have spoke with are also very pleased that P&H is a Canadian company who understands western farmers and community support, and who is also supportive of our business model, including the important relationship we have with our condo owners. When the circular is sent to shareholders late next week, we expect it will provide shareholders with the facts they need to support the unanimous recommendation of the WIT Board."