The Globe and Mail reports in its Tuesday, March 12, edition that Canaccord Genuity Group executives and top producers are buying almost 10 per cent of the company's shares with money Canaccord is lending them. The Globe's Tim Kiladze writes that this uncommon move has led to speculation about a possible management buyout. Late last week, Canaccord said it would borrow $110-million by issuing convertible debentures to two institutional investors, $80-million of which will be lent to senior employees to buy nearly 10 million of the company's shares. The remaining $30-million will be used for general corporate purposes. Canaccord said the share purchases will increase and diversify its employee ownership, and also help to retain and attract exceptional performers, because they will have more skin in the game. Mr. Kiladze says the way the share purchases are being financed, coupled with the secrecy around the two institutional investors, has spurred speculation about additional motivations. It remains unclear why Canaccord is borrowing the money and lending it to senior employees, rather than having them pay for the shares on their own. It could be that Canaccord is making a second attempt at a go-private transaction.