Magna Suspends Vote, Intends to Provide Disclosures
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Magna International Inc., Canada’s largest auto-parts maker, said it will comply with a provincial agency’s order to make additional disclosures before proceeding with a vote to eliminate its dual-class share structure.
“We intend to work cooperatively with the Ontario Securities Commission staff to address the commission’s concerns and comply with the with OSC’s additional disclosure requirements,” Chief Financial Officer Vincent Galifi said in a statement.