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Intertape Polymer Group Receives Investment Canada Approval for Buyout.

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Vincent

MANews-(C)2009-2022

Canada-based tape maker Intertape Polymer Group Inc. (TSX: ITP) has received the approval under the Investment Canada Act in respect of acquisition of the company by an affiliate of Clearlake Capital Group, L.P. for CDN 40.50 per share, the company said.

The parties to the arrangement intend to complete the arrangement on June 28, 2022, subject to the satisfaction of customary closing conditions.

Intertape Polymer Group is in the development, manufacture and sale of a range of paper and film based pressure-sensitive and water-activated tapes, stretch and shrink films, protective packaging, woven and non-woven products and packaging machinery for industrial and retail use.

Headquartered in Montreal, QuÃ(c)bec and Sarasota, Florida, IPG employs approximately 4,200 employees with operations in 34 locations, including 22 manufacturing facilities in North America, five in Asia and two in Europe.

Founded in 2006, Clearlake Capital Group...

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