Most Magna shareholders support share plan -report

Newswire

* Paper says over 50 pct of votes are in * "Overwhelming majority" support the plan * Regulator hearing on matter starts on Wednesday (In U.S. dollars) TORONTO, June 22 (Reuters) - A majority of Magna International Inc's shareholders have cast early votes in support of the automaker's controversial plan to pay its founder a huge premium to loosen his control, the Globe and Mail newspaper said on Tuesday. Frank Stronach would pocket $863 million in cash and stock in exchange for ...

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