(TSX: SCL.SV.A, SCL.MV.B) TORONTO, March 30 /CNW/ - ShawCor Ltd. (TSX: SCL.SV.A, SCL.MV.B) announced that it has made an unsolicited approach to Garneau Inc. concerning a possible transaction whereby ShawCor would acquire all of the outstanding shares of Garneau Inc. other than shares held by certain members of the Garneau family. It is anticipated that such a transaction would proceed by way of a plan of arrangement to be approved by shareholders of Garneau Inc. ShawCor has been granted a limited period of exclusivity to negotiate and settle the terms of a definitive agreement with Garneau Inc. While discussions are ongoing, no binding agreement has been entered into by the parties.