Manulife continues push for longer takeover protection
Article Abstract:
Manufacturers Life Insurance Co is converting itself into a public company from a mutual company owned by voting policy holders. The company is planning to go public in Oct 1999, with a projected market capitalization of C$9-12 bil. However, president and CEO Dominic D'Alessandro believes that the company would need a stock market value of at least C$40 bil to protect itself from takeover bids by big Canadian banks or foreign acquisitors.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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Manulife eyeing late summer for crucial vote
Article Abstract:
Manufacturers Life Insurance Co is planning to hold a policyholders meeting either in late July or early August for a vote on its plan to go public. Around 950,000 Manulife policyholders worldwide will be eligible to vote and share in the proceeds which is estimated to be between C$9 billion and $12 billion. The company is planning to list its shares on stock exchanges in Toronto, New York, Manila and Hong Kong.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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Manulife to double investment in Japan
Article Abstract:
Manufacturers Life Insurance Co. of Toronto, Canada, has formed a joint venture with Tokyo's Daihyaku Mutual Life Insurance Co. The new company called Manulife Century Insurance Co., will be controlled by Manulife, which will invest 40 billion yen ($513 million) over the next seven to eight years. Daihyaku's main contributions will be its 12,500 employees and all rights to sell new policies.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
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