The Globe and Mail reports in its Friday edition that Aimia is once again in the crosshairs of its largest shareholder. The Globe's Jameson Berkow writes that six months after Aimia's board narrowly survived an ouster attempt from Mithaq Capital SPC, Aimia found itself before the OSC Thursday to defend a $32.5-million private placement it hopes to close today. Mithaq, in its application requesting the Ontario Securities Commission's Capital Markets Tribunal block the transaction, called it an abusive defensive tactic designed to thwart a takeover bid Mithaq launched this month. Aimia pledged to reverse the private placement and return the proceeds if the tribunal ultimately rules in favour of Mithaq's request, with a formal hearing set to take place before the end of November. Both sides accuse the other of violating securities law. Aimia's lawyer, Orestes Pasparakis, said Mithaq, a family office based in Saudi Arabia that has increased its share of Aimia from less than 13 per cent in early 2023 to nearly 31 per cent today, was engaging in "invasive interference with the operations of a public company." Mithaq's lawyers asserted that the placement was issued only to block Mithaq's bid and entrench its existing board.