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The latest announcement is out from CI Financial ( (TSE:CIX) ).
CI Financial Corp. has received an interim court order for its proposed plan of arrangement with Mubadala Capital, allowing the acquisition of its shares for $32.00 per share, excluding those of senior management who opt for equity rollover agreements. The plan includes a Holdco Alternative, enabling taxable Canadian resident shareholders to use a wholly-owned holding corporation for tax efficiency. This strategic move, approved by CI’s Board of Directors, offers shareholders flexibility in the sale process, potentially impacting CI’s market positioning and shareholder engagement ahead of a special meeting scheduled for February 12, 2025.
More about CI Financial
CI Financial Corp. is a diversified global asset and wealth management company with operations primarily in Canada, the United States, and Australia. Established in 1965, CI Financial boasts significant expertise in portfolio management and wealth planning, offering a comprehensive range of products. As of November 2024, they manage approximately $532.7 billion in client assets across segments like Asset Management and Canadian Wealth Management.
YTD Price Performance: -0.56%
Average Trading Volume: 46,170
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $3.1B
For a thorough assessment of CIX stock, go to TipRanks’ Stock Analysis page.
