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MANAGEMENT-LED BIDDING GROUP PROVIDES UPDATES REGARDING OFFER TO ACQUIRE COMMON SHARES OF CANACCORD GENUITY GROUP
MANAGEMENT-LED BIDDING GROUP PROVIDES UPDATES REGARDING OFFER TO ACQUIRE COMMON SHARES OF CANACCO...
About this update from Canaccord Genuity Group Inc.
[{"type":"text","content":"\n \n \n \n MANAGEMENT-LED BIDDING GROUP PROVIDES UPDATES REGARDING OFFER TO ACQUIRE COMMON SHARES OF CANACCORD GENUITY 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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n May 8, 2023\n \n \n /CNW/ -\n \n 1373113 B\n \n .C. Ltd. (the \"Offeror\") and a management-led group consisting of officers and employees (collectively, the \"CG Employee Group\", and together with the Offeror, the \"Offerors\") of Canaccord Genuity Group Inc. (\"Canaccord Genuity\" or the \"Company\") (TSX: CF) and its subsidiaries that have offered to acquire all of the issued and outstanding common shares of the Company (other than certain common shares beneficially owned by the CG Employee Group) (the \"Offer\"), today provided certain updates in relation to the Offer.\n \n \n The Offerors are assessing the impact of the developments (the \"Developments\") regarding the regulatory approval process for the Offer announced by the Company on\n \n May 8, 2023\n \n (the \"Company Update\"), including that certain regulatory approvals for a change in control that are conditions to the Offer will likely not be received in a timely enough manner to permit completion of the Offer prior to its current expiry time of\n \n 11:59 p.m. (Eastern Standard Time)\n \n on\n \n June 13, 2023\n \n , and may not be received prior to expiration of the Offeror's financing commitments for the Offer on\n \n August 9, 2023\n \n . The Offerors are not currently in a position to make, and have not made, any determinations at this time, but will continue to consider, as further information is made available, any options presently or that may become available to them in connection with the Developments. As a result of the Developments, there can be no assurance that the Offer will be completed or, if completed, what the terms and conditions of the Offer might be. The Offerors do not expect nor intend to provide any further updates in connection with the Developments, unless as may be required by applicable law.\n \n \n The Offeror also confirms tha...