Insiders at Canaccord Genuity are trying to take the financial firm private but are being blocked by a board committee. Read more here.
Now they’re on opposite sides of a dispute over the future of Canada’s largest publicly traded independent investment dealer.
“If they engage in selling assets, we will likely pull our bid because that would be detrimental to our business,” Daviau, 58, said. “That would be foolhardy and very short-term focused on their part.” The company has had a bumpy ride since it was created out of a 2010 merger of Canaccord Financial and Genuity Capital Markets. The stock has mostly traded at a low multiple of earnings. It briefly topped $16 during the equity euphoria of 2021 before cratering last year. Canaccord was trading at $11.52 at 1:39 p.m. on Wednesday in Toronto, slightly above the proposed takeover price.
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.
Ex-CIBC bankers line up against each other in battle for Canaccord GenuityInsiders at Canaccord Genuity are trying to take the financial firm private but are being blocked by a board committee. Read more here.
Lire la suite »
Canaccord deal battle pits ex-CIBC bankers against each other - BNN BloombergTwo executives spearheading a leveraged buyout of Canaccord Genuity Group Inc. have a problem: They can’t get the deal past a board member who had previously been a close colleague at one of Canada’s biggest banks.
Lire la suite »
Canaccord significantly undervalued in management group bid: special committeeAn RBC Capital markets valuation puts Canaccord between $12.75\u002D$15.75 a share, as much as 40% more than the offer of $11.25 a share. Read on
Lire la suite »
Posthaste: 'The damage is real' — Foreign homebuyer ban causing upheaval in real estate industryThe language used in the foreign homebuyer ban legislation is stopping real estate development in its tracks, CIBC says. Find out more.
Lire la suite »
Posthaste: 'The damage is real' — Foreign homebuyer ban causing upheaval in real estate industryThe language used in the foreign homebuyer ban legislation is stopping real estate development in its tracks, CIBC says. Find out more.
Lire la suite »
Posthaste: 'The damage is real' — Foreign homebuyer ban causing upheaval in real estate industryThe language used in the foreign homebuyer ban legislation is stopping real estate development in its tracks, CIBC says. Find out more.
Lire la suite »