C.I. says it might lower hostile bid for Mackenzie

Article Abstract:

Toronto, Ont.-based MacKenzie Financial Corp., which has offered an unusual takeover defense, is trying to fend off a hostile takeover bid from Toronto, Ont.-based C.I. Fund Management Inc. MacKenzie has offered its employees a year's salary if they are laid off after a merger.

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AIC to launch rival bid for Mackenzie Financial

Article Abstract:

AIC Ltd. is ready to make a rival offer to acquire Mackenzie Financial Corp. C.I. Fund Management Inc. has already made a hostile bid of C$3.9 billion. AIC is the largest shareholder in Mackenzie, will control over 20% of the firm.

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C.I. likely to drop MacKenzie bid

Article Abstract:

C.I. Fund Management will not attempt to acquire MacKenzie Financial in a hostile takeover. AIC Ltd is attempting to acquire MacKenzie in a friendly acquisition.

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