UPDATE 2-Magna's Stronach buyout clears court hurdle -report

Newswire

* Appeal of controversial deal rejected by Canadian court * Major pension fund opposed to deal won't fight further * Founder set to reap about $1 bln in stock and cash (Adds comment from CPP Investment Board, more details) By Jeffrey Hodgson TORONTO, Aug 30 (Reuters) - An Ontario appeals court ruled on Monday that 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. Magna was not ...

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