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Mutual life holders to be first to cast votes on going public

Article Abstract:

The policyholders of Mutual Life Assurance Company of Canada will meet on June 10, 1999, in Waterloo, Ontario, to vote, either in person or proxy, on the insurer's plan to go public. The board of directos has unanimously recommended the IPO plan to policyholders. The stock market value of Mutual Life is expected to range from $3.4-$4.5 billion, or an average of $3,780 to $5,000 for each policyholder, who will receive windfall shares or cash as a result of the conversion.

Author: Partridge, John
Publisher: Bell Globemedia Interactive
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
Life insurance, Mutual Life Assurance Company of Canada

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Manulife customers expected to split as much as $12-billion

Article Abstract:

Manufacturers Life Insurance Co's policy holders stand to earn C$9 billion to C$12 billion in windfall shares and cash if the Canadian insurer goes public. The estimate was calculated based on what the market would have valued the company had it launched its initial public offering in late Mar 1999. Policy holders are scheduled to vote on the company's demutualization plan on Jul 29, 1999.

Author: Partridge, John
Publisher: Bell Globemedia Interactive
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
Manufacturers Life Insurance Company (Philippines) Inc.

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Subjects list: Canada
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