TORONTO, June 27, 2013 /CNW/ - CIBC (TSX: CM) (NYSE: CM) is providing
additional disclosure on the press release issued by Aimia earlier today:
-- We have reviewed the proposed terms of the new contract
provided by Aimia late yesterday.
-- Upon legal review, we have concluded that the notice and
document provided by Aimia to CIBC appears to have been
intentionally structured in a way that attempts to nullify
CIBC's right of first refusal and any ability to match.
-- Given the structuring of the document and our contractual
rights, we are exploring our options.
CIBC is a leading North American financial institution with more than 11
million personal banking and business clients. CIBC offers a full range of
products and services through its comprehensive electronic banking network,
branches and offices across Canada, and has offices in the United States and
around the world. You can find other news releases and information about CIBC
in our Media Centre on our corporate website at www.cibc.com.
Kevin Dove, Head of External Communications at
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CO: Canadian Imperial Bank of Commerce
-0- Jun/27/2013 19:29 GMT
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