The company says an ‘ongoing regulatory matter’ means required approvals likely won’t be received before the June 13 deadline
The new special committee consists of two directors, one of which – Terrence Lyons – was hand-picked by Skky.
“Every single day, every single bank and investment bank has some issue like this and it is immaterial, but it does impact change of control which is why the company disclosed it,” the source said, whom The Globe and Mail has agreed not to identify as the person is not authorized to comment publicly.
In addition to the regulatory issue, Canaccord also announced Monday that the management takeover bid would no longer require the company to only seek rival bids for the entire business. The offer had previously included a condition that prevented the company from looking for potential buyers of certain Canaccord divisions, such as its lucrative wealth management business in the United Kingdom.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Canaccord shares dive as management buyout tripped up over 'ongoing regulatory matter'Canaccord warned that quick approval of a management buyout is at risk due to an “ongoing regulatory matter” at a foreign division. Read on.
Lire la suite »
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
Lire la suite »
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.
Lire la suite »
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.
Lire la suite »
'Langford' becomes an official mailing address in JuneLangford residents will be notified directly by Canada Pot of the changes, says the city.
Lire la suite »
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
Lire la suite »