Magna faces shareholder opposition to Tesma buyout

Newswire

By Solarina Ho TORONTO, Jan 25 (Reuters) - Several Tesma International minority shareholders are likely to vote against parent Magna International Inc.'s bid to privatise the autoparts unit because they believe the offer undervalues it, a stakeholder said. "I think if this were a third-party offering that it would get rejected," said James Cole, a senior vice-president and portfolio manager at AIC Investment Services Inc. AIC is its Tesma's largest institutional minority shareholder, ...

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