Canaccord warned that quick approval of a management buyout is at risk due to an “ongoing regulatory matter” at a foreign division. Read on.
Play Video
A group of Canaccord senior executives has offered to take the financial firm private for $11.25 a share, but regulators’ blessing for the deal won’t be given on an expedited basis, the company said in a May 8 statement.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc.
That committee is still assessing the management bid, which values Canaccord at more than $1.1 billion. It will also consider asset sales after the management buyout group agreed to drop a condition of its bid that prohibited the sale of any significant part of the business.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canaccord’s management flags regulatory risk to its planned take-private dealA group led by Canaccord’s management said there could be ‘no assurance’ that their take-private deal for the financial services firm would be completed
Read more »
Canaccord buyout hits bump as firm has regulatory problem - BNN BloombergCanaccord Genuity Group Inc. warned that it may not be able to get quick approval of a management buyout because of an “ongoing regulatory matter” at one of its foreign divisions.
Read more »
Indian troops kill 2 rebels in Kashmir in ongoing operationsIndian soldiers killed two suspected militants in ongoing counterinsurgency operations in Kashmir on Saturday, officials said, a day after rebels fighting against Indian rule killed five soldiers in the disputed Himalayan region.
Read more »
Read the full text of the Coronation Oath of King Charles IIIKing Charles III was crowned on Saturday at Westminster Abbey during an hourlong ceremony amongst the British Royals, politicians and international dignitaries. Read the full text of the Oath that King Charles took during the ceremony:
Read more »
B.C. school teens showed improved grades and social skills after a ban on phones - Terrace StandardB.C. school teens showed improved grades and social skills after a ban on phones
Read more »
'The Oscar you received was given by mistake': Toronto filmmaker Sarah Polley pranked on April Fools\u0027My eleven\u002Dyear\u002Dold swung low for April Fools Day this year\u0027, the tweet read.
Read more »