Five million shares at $25 each
Assigns rating to new preferred share offering
Preferred share offering worth $125 million
Strong growth in mutual and seg fund sales
Appoints new group of directors
Insurer takes up 444,250 additional Clarington shares
The board of directors of Clarington Corp. today confirmed its support of the recently increased offer from Industrial Alliance Insurance and Financial Services Inc. to acquire all the outstanding common shares of Clarington for $15 per share.Industrial Alliance announced the mailing of a notice of variation to Clarington’s shareholders formally amending its offer to reflect […]
Increased offer expected to have only a modest impact on leverage and solvency ratios
Increases offer to $15 per share
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 […]