Magna International (TSE:MG) has released an update.
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Magna International warns shareholders against an unsolicited mini-tender offer from TRC Capital to purchase up to 2 million shares at a price under market value, advising them to reject the bid. The offer is not fully funded and is conditional, including a withdrawal condition if Magna’s share price drops below a certain threshold. The company recommends that shareholders consult their financial advisors and exercise caution.
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