Cerberus Capital Management and Dorel’s controlling Schwartz family called off tomorrow’s vote to approve the deal after it became clear that a majority of independent shareholders opposed the buyout. The termination of the arrangement agreement was approved by a unanimous vote of the company’s board, DII said in a release. Discussions with shareholders continued through last Friday, and the decision was made after an examination of proxy votes that had been submitted by 5:00 p.m. In Jan., Cerberus sweetened the offer from the original C$14.50 per share to C$16.00 after a lukewarm reception from investment funds who own the stock.

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