Canada: Opposition to Magna’s plan surfaces

In comments to Reuters, two Canadian pension funds have expressed concerns regarding Magna International's plan to pay Frank Stronach, the company’s founder, around US$860m to cede control. Magna announced in early May 2010 that it had entered into a transaction agreement with the Stronach Trust under which holders of Magna's Class A Subscribe to Automotive World … Continued

• By Webmaster
• June 4, 2010