Business News • MarketWire • C.A. Bancorp Commits to Remove Its Shareholder Rights Plan |
C.A. Bancorp Commits to Remove Its Shareholder Rights Plan |
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C.A. Bancorp Commits to Remove Its Shareholder Rights Plan
TORONTO, ONTARIO--(Marketwire - Jan. 31, 2010) - C.A. Bancorp Inc. (TSX:BKP) ("C.A. Bancorp" or the "Company") announced today that its board of directors (the "Board") has determined to terminate its shareholder rights plan as of 5:00 p.m. (Toronto time) on March 15, 2010.
As previously disclosed, the Company is actively engaged in a strategic review process initiated in response to the hostile take-over bid by Maxam Acquisition Corporation ("Maxam"). As part of that process, the Company is in advanced discussions with a number of interested third parties which have proposed transactions at values in excess of the Maxam offer, and the Company is also considering other potential value-maximizing alternatives which could yield values superior to the Maxam offer.
View More : http://www.marketwire.com/mw/release.do?id=1109727&sourceType=3
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