In early December, a confidentiality agreement between the organizations was revealed, but the nature of the discussions was unclear.
According to the report, both organizations have agreed in principle upon the financial components and other specifics within the purchase agreement. The deal was based upon an independent appraisal and valuation by outside entities.
Plans for the transition are still being finalized. The transaction is expected to be completed by the end of the year, and MCN will continue operations until the transaction is completed, according to the release.
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