The Reject Shop to suspend trading on ASX as Dollarama seals takeover

The news: The Reject Shop will be suspended from trading on the ASX from close of trading today, after the retailer's $259 million takeover by Toronto-listed dollar store Dollarama became legally effective.

The numbers: Shareholders will receive a special dividend of $0.77 cash per share on 14 July followed by a scheme consideration of $5.91 in cash per share on 22 July.

The context: The discount store chain, which first floated on the local exchange in 2004, today lodged a copy of the orders made by the Federal Court approving the takeover with the Australian Securities and Investments Commission.

Last week, The Reject Shop shareholders voted overwhelmingly in favour of the deal.