Standard & Poor’s (S&P) Canadian Index Operations is making alterations to its indexes. Forzani Group will be removed from indices, such as the S&P/TSX Composite, S&P/TSX Capped Composite, S&P/TSX Completion, S&P/TSX Equity Completion and S&P/TSX Equity.

The changes will take effect from August 24. Canadian Tire will be taking over Forzani for $26.77 cash per share.

Click here for the release from Canada Newswire.