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Magna obtains issuer bid exemption order to permit purchases by way of private agreement
Magna obtains issuer bid exemption order to permit purchases by way of private agreement ...
About this update from Magna International Inc.
[{"type":"text","content":"\n\n\n\nMagna obtains issuer bid exemption order to permit purchases by way of private agreement\n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n\n\n\n\n\nMagna obtains issuer bid exemption order to permit purchases by way of private agreement\nCanada NewsWire\nAURORA, ON, Nov. 27, 2015\n\n\n\n\nAURORA, ON, Nov. 27, 2015 /CNW/ - Magna International Inc. (TSX: MG, NYSE: MGA) today announced that the Ontario Securities Commission (\"OSC\") has\n issued an issuer bid exemption order (the \"Order\") permitting us to\n make private agreement purchases of Magna International Inc.'s\n (\"Magna\") Common Shares from an arm's length third-party seller. Any\n purchases of our Common Shares made by way of private agreement under\n the Order will be at a discount to the prevailing market price, may be\n made in tranches over time, and must otherwise comply with the terms of\n each of the Order, including that: only one such purchase is permitted\n per calendar week; any such purchase must occur prior to the expiry of\n our Normal Course Issuer Bid (the \"Bid\") on November 13, 2016; and the\n maximum number of Common Shares which may be purchased by way of all\n such private agreements cannot exceed 13,333,333, being one-third of\n the total number of Common Shares which may be purchased under the Bid.\n\n\nAll Common Shares purchased by way of private agreement made pursuant to\n the Order will be included in computing the number of Common Shares\n purchased under the Bid, and information regarding each purchase,\n inclu...