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Magna International AGM - Shareholders will vote about Frank Stronach’s future

Published: July 9, 2010; 00:00 · (Vindobona)

The Austrian-Canadian supplier Magna International set a new general meeting for July 23rd, to vote about the retreat of founder Frank Stronach.

Magna International AGM - Shareholders will vote about Frank Stronach’s future / Picture: © Reuters

As reported, the so-called A-shareholders of Magna already decided on a new corporate structure and the associated loss of control of Stronach. This project was questioned four days before the meeting by an "additional claim" by Ontario Securities Commission (OSC). OSC asked the group for additional information.

Stronach – if the plan is adopted - will receive $863m in cash and…

This article includes a total of 105 words.

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