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Altus Group Limited — M&A Activity 2024
May 24, 2024
46705_rns_2024-05-24_ae0ee685-6587-4040-9ed6-70b279d7baf0.pdf
M&A Activity
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Form 51-102F3 MATERIAL CHANGE REPORT
Name and Address of Company
Altus Group Limited (“ Altus Group ” or the “ Company ”) 33 Yonge Street, Suite 500 Toronto, ON, Canada M5E 1G4
Date of Material Change
May 17, 2024
News Release
On May 17, 2024, Altus Group issued a news release through the newswire services of GlobeNewswire. A copy of the news release is available on SEDAR+ at www.sedarplus.ca.
Summary of Material Change
On May 17, 2024, Altus Group announced that it has delivered a termination notice with respect to its previously announced acquisition of Situs Group LLC’s (“ Situs ”) commercial real estate valuation and advisory services (“ REVS ”) business.
Full Description of Material Change
On May 17, 2024, Altus Group announced that it has delivered a termination notice with respect to its previously announced acquisition of Situs’ REVS business. After extensive engagement with the U.S. Federal Trade Commission over the past six months, Altus Group determined that the transaction was unlikely to receive regulatory approval in a timely manner. Altus Group will pay a US$3.0 million termination fee to Situs.
Reliance on subsection 7.1(2) of National Instrument 51-102
Not applicable.
Omitted Information
None.
Executive Officer
Pawan Chhabra Chief Financial Officer (416) 641-9500
Date of Report
May 24, 2024