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Nordion Announces The Coming Into Force Of Legislative Amendments To The Nordion Act


6/20/2014 10:39:03 AM

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OTTAWA, Ontario--(BUSINESS WIRE)--Nordion Inc. (TSX:NDN) (NYSE:NDZ) was advised today that the Parliament of Canada has enacted legislation affecting foreign ownership restrictions and limitations contained in the Nordion and Theratronics Divestiture Authorization Act (the “Nordion Act ”). The legislative amendments to the Nordion Act were included in Bill C-31, An Act to implement certain provisions of the budget tabled in Parliament on February 11, 2014, and other measures, which received Royal Assent today and in relevant part concurrently came into force. In accordance with the legislative amendments to the Nordion Act, the foreign ownership restrictions applicable to the Company will no longer apply to a change of control transaction with a "non-resident" (as defined in the Nordion Act) if such a transaction is approved under the Investment Canada Act. The Royal Assent and coming into force of these amendments to the Nordion Act were amongst the closing conditions for the previously announced proposed acquisition by Sterigenics of all the issued and outstanding common shares of Nordion.

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