2023-06-14 15:21:19 ET
- Canaccord Genuity Group (TSX: TSX: CF:CA ) fell 6.2% i n trading in Canada after the management-led buyout offer expired on Tuesday.
- In connection with the expiration of the offer, the buyout group entered into a two-year standstill agreement with Canaccord, according to a statement.
- In late February, the management-led group, made up of Canaccord's (TSX: CF:CA ) executive leadership and its largest shareholder, formally started an all-cash offer of C$11.25 per share to take the company private.
- Earlier this month, the management-led group that offered to acquire Canaccord Genuity Group ( OTCPK:CCORF ) said there' s "no reasonable chance" that the conditions to its offer to acquire the investment firm will be satisfied before the offer expired on Tuesday.
For further details see:
Canaccord drops as management-led buyout offer expires