UPDATE 1-Magna postpones share vote, to make disclosures

Newswire

* Magna founder in line for nearly $900 mln payout * Vote to proceed "in due course" * Ontario Securities Commission not convinced deal abusive (In U.S. dollars) TORONTO, June 25 (Reuters) - Magna International Inc will provide shareholders with more information on a plan to pay its founder nearly $900 million to give up his controlling shares, and will postpone a vote on the matter, the auto parts maker said on Friday. The shareholder vote had been scheduled for June 28. Magna said ...

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