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Sleep Country Canada Income Fund & 7019416 Canada Inc	Update Date: 10/21/08
Date Announced: 08/14/08
Value (million $USD): 281.7 million U.S. Dollar 299.3 million Canadian Dollar

Status: Part Comp

TRANSACTION DETAILS
Date Announced	08/14/08
Date Originally Announced	08/14/08
Format	Merger	Acquisition techniques	Leveraged Buyout; Tender Offer; Tender/Merger; Financial Acquiror; Institutional Buyout
Attitude	Friendly	Agency	Unspecified Regulatory Auth.
Value	281.7 million U.S. Dollar 299.3 million Canadian Dollar	Advisor Fees	n/a

SYNOPSIS

CANADA - 7019416 Canada Inc, a special purpose acquisition vehicle formed by Birch Hill Equity Partners Management Inc and Westerkirk Capital Inc, completed its tender offer to acquire all the outstanding common stock of Sleep Country Canada Income Fund (SC), a retailer of mattresses and bedding related products, for 22 Canadian dollars ($20.708 US) in cash per share, or a total value of C$299.266 mil ($281.689 mil), by accepting 9.551 mil shares, or70.2% of SCs common shares outstanding, in a leveraged buyout transaction. The transaction was subject to customary closing conditions.

TARGET
Name	Sleep Country Canada Income Fund (TSXVenture : Z.UN)
Industries	Trusts, exc. educational, religious, & charitable
City	Toronto
State	n/a
Nation	Canada
Incorporated in	n/a
Public Status	Public
Business Description	Sleep Country Canada Income Fund, headquartered in Toronto, Ontario, retails mattresses and bedding related products. It has 133 corporate owned stores under the Sleep Country Canada banner and 27 stores in Quebec under the Dormez-vous Sleep Centres Inc. It also owns Sleep America LLC in Arizona with 46 stores. It also serves as a limited purpose, open-ended trust. The company was founded in 1994.
Advisors	Genuity Capital Markets
Target Sales	359.5 million U.S. Dollar 366.9 million Canadian Dollar

ACQUIROR
Name	7019416 Canada Inc
Industries	n/a
City	n/a
State	n/a
Nation	Canada
Incorporated in	n/a
Public Status	Subsidiary
Business Description	7019416 Canada Inc is a special purpose acquisition vehicle formed by Birch Hill Equity Partners Management Inc and Westerkirk Capital Inc for the purpose of acquiring Sleep Country Canada Income Fund. The company is headquartered in Canada. A special purpose acquisition vehicle is an investment vehicle that is formed solely for the purpose of making acquisitions.
Advisors	TD Securities Inc
Acquiror Sales	n/a

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