20 August 2009
Mondrian-Hall deal swings back to Unisource
EDMONTON—EM Plastic & Electric Products will not take over Mondrian-Hall after all. Instead, the insolvent large-format tech supplier is set to be acquired by Unisource Canada, the company that was originally outbid by EM Plastic.

Although EM Plastic offered about $150,000 more for Mondrian-Hall than Unisource during a bidding process held last week, it “had some concerns about the conditions of the agreement” that could not be resolved, according to Mondrian-Hall CEO Jack Ford.

With the ball back in its court, Unisource decided it was satisified with the terms of the deal and an asset purchase agreement was reached, Ford said.

Mondrian-Hall has been restructuring under the Companies' Creditors Arrangement Act since July 8.

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