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MANAGEMENT-LED GROUP ANNOUNCES INTENTION TO LAUNCH TAKEOVER BID FOR THE COMMON SHARES OF CANACCORD GENUITY GROUP INC. AT C$11.25 CASH PER COMMON SHARE
MANAGEMENT-LED GROUP ANNOUNCES INTENTION TO LAUNCH TAKEOVER BID FOR THE COMMON SHARES OF CANACCOR...
About this update from Canaccord Genuity Group Inc.
[{"type":"text","content":"\n \n \n \n MANAGEMENT-LED GROUP ANNOUNCES INTENTION TO LAUNCH TAKEOVER BID FOR THE COMMON SHARES OF CANACCORD GENUITY GROUP INC. AT C$11.25 CASH PER COMMON SHARE\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 \n The offeror group holds approximately 21.3% of the issued and outstanding common shares\n \n \n \n \n \n \n Compelling proposal to the shareholders which is supported by the Company's largest independent shareholder\n \n \n \n \n \n \n Represents a 41.9% premium to the preceding 20-day VWAP\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Jan. 9, 2023\n \n \n /CNW/ -\n \n 1373113 B\n \n .C. Ltd. (the \"Offeror\") announced today that it intends to commence an all–cash take-over bid (the \"Proposed Offer\"), on behalf of itself and a management-led group consisting of officers and employees of Canaccord Genuity Group Inc. (\"Canaccord Genuity\" or the \"Company\") (TSX: CF) and its subsidiaries (collectively, the \"CG Employee Group\", and together with the Offeror, the \"Offerors\"), 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) at a price of\n \n C$11.25\n \n per Common Share (the \"Offer Price\"). The Proposed Offer values the Common Shares of the Company at approximately\n \n C$1.127 billion\n \n .\n \n \n The Offer Price of\n \n C$11.25\n \n per Common Share represents a 30.7% premium to the closing price of the Common Shares on\n \n January 6, 2023\n \n and a 41.9% premium to the preceding 20-day VWAP.\n \n \n The CG Employee Group, which collectively owns approximately 21.3% of the issued and outstanding Common Shares, is comprised of the President & CEO, Chairman, all members of the Company's Global Operating Committee and additional senior and tenured employees from all Canaccord Genuity businesses and geographies.\n \n \n \"\n \n We are pleased to be presenting this compelling proposal to the Shareholders, including our largest independent Shareholder, who is sup...