CI Financial Inc. today reported an 82% in second-quarter profit thanks to robust equity markets and strong sales of its mutual funds.Net income for the three months ended Nov. 30, 2005 was $75.7 million, or 26¢ a share, up from $41.5 million, or 14¢ a share, a year ago.The company also took a hurt by […]
IA offer in the mail to shareholders
Tax on funds called “unfair”
The board of directors of Clarington Corp. today conceded that the bid for Clarington from CI Fund Management Inc. constitutes a “competing transaction”.The $285 million bid from CI tops one from Industrial Alliance Insurance and Financial Services Inc. worth $273 million.Clarington had argued that CI’s proposal had not achieved official status, without a formal mailing […]
Waives demands for non-competition agreements with Clarington officers, directors
CI offer is not a “competing transaction”, board says
MERs for Clarington unitholders expected to drop over time, firm says
Offer takes into consideration $7 million break fee Clarington obligated to pay Industrial Alliance
Ups offer to $14.75 a share
Future of proposed fee reductions in doubt