The Toronto Stock Exchange reports that Power Financial Corp.'s common shares will be delisted at the close on Feb. 18, 2020. According to the TSX, Power Corp. of Canada has acquired all of the issued and outstanding common shares not already owned by it or its wholly owned subsidiaries, pursuant to a plan of arrangement involving the company and Power Corp. Under the arrangement, the holders of Power Financial common shares will receive 1.05 subordinate voting shares of Power Corp. and one cent in cash per Power Financial common share held.
According to the TSX, the first preferred shares of Power Financial are not subject to the arrangement and will remain outstanding shares of the company. The preferred shares will continue to be listed and posted for trading on the TSX until further notice.
For more information, see Power Financial's management proxy circular dated Jan. 10, 2020, available on SEDAR.
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