Magna buyout of founder shares can go ahead-report


NEW YORK, Aug 30 (Reuters) - Auto parts company Magna International Inc's proposed buyout of founder Frank Stronach's controlling shares can go ahead, Canada's Globe and Mail reported on Monday, citing a ruling by a three-member panel of Ontario judges. The ruling dismisses an appeal from some of the country's largest pension funds, the paper said. Stronach is to get $863 million worth of stock under the deal that will see the 77-year-old entrepreneur give up his controlling, class B ...

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