Acasta Enterprises Inc. agreed to acquire Apollo Health And Beauty Care Corporation for CAD 390 million on November 10, 2016. The purchase price shall be paid as CAD 195 million in cash and the remaining as Class B common shares of Acasta. The completion of the transaction is conditional on the execution and delivery of lock-up agreements, and a registration rights agreement, and an agreement with respect to certain excluded assets; OSC and TSX approval of the acquisition, together with any other acquisition by Acasta, to qualify as Acasta’s “qualifying acquisition”; approval of the acquisition by Acasta’s shareholders; net redemptions of Class A Restricted Voting Shares not exceeding the amount required to close the acquisition; completion of the Stellwagen reorganization and concurrent closing of the acquisition of minority interests; execution of a subscription agreement by Acasta investing $100 million (CAD 134 million) in investment vehicles managed by Stellwagen; and other usual and customary conditions for transactions of this nature. As of December 5, 2016 Institutional Shareholder Services Inc. recommended approval of Acasta Enterprises Inc.'s acquisition. Acasta's special meeting of shareholders to approve the Qualifying transaction is scheduled for December 20, 2016. On December 20, 2016, the transaction has been approved by the shareholders of Acasta Enterprises Inc. The transaction is expected to be completed on January 3, 2017. On December 9, 2016, the companies received early termination notice of antitrust approval waiting period. On December 16, 2016, Acasta increased the size of the private placement of Class B shares and received sufficient proxies for approval of the transaction on December 20, 2016. Stephen Pincus, William Gorman, Kari MacKay, Celia Rhea, Michelle Vigod, Dan Dedic (partner), Elizabeth Mpermperacis, Jon Northup, Susan Garvie, Catherine Lyons, Amalia Berg, John Alton, Jeffrey Shore and Francy Kussner of Goodmans LLP acted as legal advisor to Acasta while BMO Capital Markets, Canaccord Genuity Corp., and TD Securities acted as financial advisors to Acasta. Jason Arbuck, Zohar Barzilai, Jonathan Freeman, Gordon Goodman, Chris Hersh, Tom Koutoulakis, Emily Larose, Signe Leisk, Jessica Lipton, A. Chandimal Nicholas, Adrianna Pilkington, Stefanie Sebanc, Kristin Taylor, Lawrence D. Wilder and Luke Woolford of Cassels Brock & Blackwell LLP acted as legal advisors to Apollo. Joel Scoler, Tim Baron, Peter Martorelli and Dina Milivojevic of Davies Ward Phillips & Vineberg LLP acted as legal advisors for the underwriters, Canadian Imperial Bank of Commerce and The Toronto-Dominion Bank, in connection with the financing of the transaction. Tim Baron, Peter Martorelli and  Joel Scoler of Davies Ward Phillips & Vineberg LLP acted as legal advisor to Acasta Enterprises Inc. Fried, Frank, Harris, Shriver & Jacobson LLP advised Goodmans LLP in US. Acasta Enterprises Inc. completed the acquisition of Apollo Health And Beauty Care Corporation on January 3, 2017.