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CANACCORD GENUITY GROUP INC. SPECIAL COMMITTEE COMMENTS ON ANNOUNCEMENT OF PROPOSED OFFER BY MANAGEMENT GROUP
CANACCORD GENUITY GROUP INC. SPECIAL COMMITTEE COMMENTS ON ANNOUNCEMENT OF PROPOSED OFFER BY MANA...
About this update from Canaccord Genuity Group Inc.
[{"type":"text","content":"\n \n \n \n CANACCORD GENUITY GROUP INC. SPECIAL COMMITTEE COMMENTS ON ANNOUNCEMENT OF PROPOSED OFFER BY MANAGEMENT GROUP\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Shareholders Need Not Take Any Action At This Time\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Jan. 9, 2023\n \n \n /CNW/ - Canaccord Genuity Group Inc. (TSX: CF) (the \"\n \n Company\n \n \") today acknowledged that a group comprised of certain members of the Company's management team (the \"\n \n Management Group\n \n \") has announced an intention to make a take-over bid for all of the common shares of the Company not already owned by the Management Group at a price of\n \n $11.25\n \n per share (the \"\n \n Proposed Offer\n \n \").\n \n \n The Management Group is led by\n \n Dan Daviau\n \n , the President and Chief Executive Officer of the Company, and\n \n David Kassie\n \n , the Chairman of the Board of Directors of the Company. In its press release, the Management Group disclosed that its members collectively exercise control or direction over approximately 21.3% of the outstanding common shares of the Company.\n \n \n The Board of Directors of the Company formed a Special Committee of independent directors to evaluate and consider an earlier non-binding proposal by the Management Group. The Special Committee of independent directors is comprised of\n \n Gillian H. Denham\n \n (Chair of the Special Committee),\n \n Charles N. Bralver\n \n ,\n \n Dipesh J. Shah\n \n and\n \n Sally J. Tennant\n \n . The Special Committee has retained Davies Ward Phillips & Vineberg LLP, as its independent legal counsel, and has engaged RBC Dominion Securities Inc., a member company of RBC Capital Markets (\"\n \n RBC\n \n \") as its independent financial advisor to provide financial advice and a formal valuation of the Company's common shares as required under Multilateral Instrument 61-101\n \n – Protection of Minority Security Holders in Special Transactions\n \n (\"\n \n MI 61-101\n \n \").\n \n \n The Special Committee inten...