Business News • MarketWire • Matrix Updates Managed Assets Acquisition Opportunity |
Matrix Updates Managed Assets Acquisition Opportunity |
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Matrix Updates Managed Assets Acquisition Opportunity
TORONTO, ONTARIO--(Marketwire - July 27, 2011) - As reported in Matrix Asset Management Inc.'s ("Matrix" or the "Company") (TSX:MTA) Management's Discussion and Analysis for the three months ended March 31, 2011, the Company's venture capital and private equity subsidiary, GrowthWorks, has been pursuing taking on management of assets currently managed by five VenGrowth retail venture capital funds ("VenGrowth Funds"). GrowthWorks Canadian Fund Ltd. (the "Fund"), a GrowthWorks managed fund, today announced a new proposal for merging the VenGrowth Funds into GrowthWorks Canadian Fund (the "GrowthWorks Proposal"), which it believes offers a number of significant advantages over the most recent merger proposal being promoted by the board of directors and managers of the VenGrowth Funds with Covington Fund II Inc. The proposed mergers, if all are completed, are expected to add approximately $300 million in net assets to GrowthWorks Canadian Fund.
View More : http://www.marketwire.com/mw/release.do?id=1542605&sourceType=3
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