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
Amount of loss is manageable, says DBRS
Total provision climbs to $77.9 million
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
Clarington deal would add significant scale to wealth management operations
Insurer increases dividend
Multi-Strategy Fund and the Global Trading Fund