{"id":45401,"date":"2023-06-15T20:45:20","date_gmt":"2023-06-16T01:45:20","guid":{"rendered":"https:\/\/prefblog.com\/?p=45401"},"modified":"2023-06-15T20:45:20","modified_gmt":"2023-06-16T01:45:20","slug":"june-15-2023","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=45401","title":{"rendered":"June 15, 2023"},"content":{"rendered":"

The clown show at Canaccord is taking an intermission<\/a>:<\/p>\n

Executives at Canaccord Genuity Group Inc. have officially scrapped their all-cash $1.1-billion management buyout offer, ending a fight that turned into a hostile takeover from within and resulted in the resignations of multiple board directors.<\/p>\n

The investment dealer\u2019s management team announced early Wednesday that they have let their bid to take the company private expire \u2013 an outcome they had previously warned could happen after disclosing a vague \u201congoing regulatory matter\u201d in one of Canaccord Genuity\u2019s foreign subsidiaries. The team also said they have agreed to a two-year standstill with the board.<\/p>\n

The company\u2019s shares closed Wednesday at $8 a piece, dropping to roughly where they were trading when the takeover saga began five months ago.<\/p><\/blockquote>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
HIMIPref\u2122 Preferred Indices
\nThese values reflect the December 2008 revision of the HIMIPref\u2122 Indices<\/strong>
\nValues are provisional and are finalized monthly<\/td>\n<\/tr>\n
Index<\/td>\nMean
\nCurrent
\nYield
\n(at bid)<\/td>\n		Median
\nYTW<\/td>\n		Median
\nAverage
\nTrading
\nValue<\/td>\n		Median
\nMod Dur
\n(YTW)<\/td>\n		Issues<\/td>\nDay’s Perf.<\/td>\nIndex Value<\/td>\n<\/tr>\n
Ratchet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n2.2727 %<\/td>\n2,173.2<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n2.2727 %<\/td>\n4,168.1<\/td>\n<\/tr>\n
Floater<\/td>\n10.81 %<\/td>\n10.89 %<\/td>\n46,781<\/td>\n8.93<\/td>\n1<\/td>\n2.2727 %<\/td>\n2,402.1<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0873 %<\/td>\n3,289.4<\/td>\n<\/tr>\n
SplitShare<\/td>\n5.10 %<\/td>\n8.16 %<\/td>\n42,873<\/td>\n2.21<\/td>\n6<\/td>\n0.0873 %<\/td>\n3,928.3<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0873 %<\/td>\n3,065.0<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0863 %<\/td>\n2,634.9<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n6.47 %<\/td>\n6.65 %<\/td>\n40,544<\/td>\n12.92<\/td>\n31<\/td>\n0.0863 %<\/td>\n2,873.2<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.83 %<\/td>\n8.34 %<\/td>\n85,691<\/td>\n11.30<\/td>\n63<\/td>\n0.3033 %<\/td>\n2,139.9<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n6.40 %<\/td>\n6.39 %<\/td>\n56,016<\/td>\n13.42<\/td>\n19<\/td>\n0.3103 %<\/td>\n2,811.7<\/td>\n<\/tr>\n
FloatingReset<\/td>\n11.36 %<\/td>\n10.91 %<\/td>\n27,351<\/td>\n8.92<\/td>\n2<\/td>\n0.7578 %<\/td>\n2,374.1<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n6.96 %<\/td>\n6.98 %<\/td>\n287,751<\/td>\n3.75<\/td>\n1<\/td>\n0.1984 %<\/td>\n2,322.8<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.3033 %<\/td>\n2,187.4<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n6.07 %<\/td>\n7.72 %<\/td>\n88,505<\/td>\n11.73<\/td>\n9<\/td>\n0.0543 %<\/td>\n2,340.4<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
PVS.PR.G<\/td>\nSplitShare<\/td>\n-1.30 %<\/td>\nYTW SCENARIO
\nMaturity Type : Option Certainty
\nMaturity Date\t: 2026-02-28
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.85
\nBid-YTW : 8.62 %<\/td>\n<\/tr>\n
PWF.PR.L<\/td>\nPerpetual-Discount<\/td>\n-1.19 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-06-15
\nMaturity Price : 19.10
\nEvaluated at bid price : 19.10
\nBid-YTW : 6.80 %<\/td>\n<\/tr>\n
TD.PF.L<\/td>\nFixedReset Disc<\/td>\n1.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-06-15
\nMaturity Price : 22.93
\nEvaluated at bid price : 23.53
\nBid-YTW : 7.44 %<\/td>\n<\/tr>\n
FTS.PR.H<\/td>\nFixedReset Disc<\/td>\n1.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-06-15
\nMaturity Price : 12.28
\nEvaluated at bid price : 12.28
\nBid-YTW : 9.60 %<\/td>\n<\/tr>\n
BN.PF.A<\/td>\nFixedReset Disc<\/td>\n1.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-06-15
\nMaturity Price : 18.72
\nEvaluated at bid price : 18.72
\nBid-YTW : 8.91 %<\/td>\n<\/tr>\n
GWO.PR.Y<\/td>\nInsurance Straight<\/td>\n1.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-06-15
\nMaturity Price : 17.95
\nEvaluated at bid price : 17.95
\nBid-YTW : 6.30 %<\/td>\n<\/tr>\n
RY.PR.N<\/td>\nPerpetual-Discount<\/td>\n1.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-06-15
\nMaturity Price : 21.85
\nEvaluated at bid price : 21.85
\nBid-YTW : 5.67 %<\/td>\n<\/tr>\n
FTS.PR.G<\/td>\nFixedReset Disc<\/td>\n1.21 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-06-15
\nMaturity Price : 18.40
\nEvaluated at bid price : 18.40
\nBid-YTW : 8.07 %<\/td>\n<\/tr>\n
SLF.PR.J<\/td>\nFloatingReset<\/td>\n1.37 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-06-15
\nMaturity Price : 14.75
\nEvaluated at bid price : 14.75
\nBid-YTW : 10.91 %<\/td>\n<\/tr>\n
PWF.PF.A<\/td>\nPerpetual-Discount<\/td>\n1.41 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-06-15
\nMaturity Price : 17.30
\nEvaluated at bid price : 17.30
\nBid-YTW : 6.62 %<\/td>\n<\/tr>\n
BN.PF.G<\/td>\nFixedReset Disc<\/td>\n1.47 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-06-15
\nMaturity Price : 14.45
\nEvaluated at bid price : 14.45
\nBid-YTW : 10.46 %<\/td>\n<\/tr>\n
RY.PR.O<\/td>\nPerpetual-Discount<\/td>\n1.86 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-06-15
\nMaturity Price : 21.51
\nEvaluated at bid price : 21.88
\nBid-YTW : 5.64 %<\/td>\n<\/tr>\n
BN.PR.R<\/td>\nFixedReset Disc<\/td>\n1.87 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-06-15
\nMaturity Price : 13.07
\nEvaluated at bid price : 13.07
\nBid-YTW : 10.26 %<\/td>\n<\/tr>\n
PVS.PR.K<\/td>\nSplitShare<\/td>\n1.91 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2029-05-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.35
\nBid-YTW : 7.60 %<\/td>\n<\/tr>\n
BN.PR.T<\/td>\nFixedReset Disc<\/td>\n1.95 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-06-15
\nMaturity Price : 13.56
\nEvaluated at bid price : 13.56
\nBid-YTW : 9.91 %<\/td>\n<\/tr>\n
BN.PR.B<\/td>\nFloater<\/td>\n2.27 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-06-15
\nMaturity Price : 11.25
\nEvaluated at bid price : 11.25
\nBid-YTW : 10.89 %<\/td>\n<\/tr>\n
BIP.PR.E<\/td>\nFixedReset Disc<\/td>\n2.42 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-06-15
\nMaturity Price : 21.15
\nEvaluated at bid price : 21.15
\nBid-YTW : 7.97 %<\/td>\n<\/tr>\n
IFC.PR.F<\/td>\nInsurance Straight<\/td>\n2.80 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-06-15
\nMaturity Price : 21.30
\nEvaluated at bid price : 21.30
\nBid-YTW : 6.25 %<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n
Volume Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nShares
\nTraded<\/td>\n		Notes<\/td>\n<\/tr>\n
IFC.PR.A<\/td>\nFixedReset Ins Non<\/td>\n114,520<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-06-15
\nMaturity Price : 17.40
\nEvaluated at bid price : 17.40
\nBid-YTW : 7.59 %<\/td>\n<\/tr>\n
TD.PF.I<\/td>\nFixedReset Disc<\/td>\n105,450<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2027-10-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.96
\nBid-YTW : 6.60 %<\/td>\n<\/tr>\n
RY.PR.J<\/td>\nFixedReset Disc<\/td>\n51,600<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-06-15
\nMaturity Price : 18.45
\nEvaluated at bid price : 18.45
\nBid-YTW : 8.25 %<\/td>\n<\/tr>\n
PWF.PR.P<\/td>\nFixedReset Disc<\/td>\n30,405<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-06-15
\nMaturity Price : 12.42
\nEvaluated at bid price : 12.42
\nBid-YTW : 9.35 %<\/td>\n<\/tr>\n
GWO.PR.N<\/td>\nFixedReset Ins Non<\/td>\n22,700<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-06-15
\nMaturity Price : 12.10
\nEvaluated at bid price : 12.10
\nBid-YTW : 9.00 %<\/td>\n<\/tr>\n
MFC.PR.M<\/td>\nFixedReset Ins Non<\/td>\n21,565<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-06-15
\nMaturity Price : 16.70
\nEvaluated at bid price : 16.70
\nBid-YTW : 8.82 %<\/td>\n<\/tr>\n
There were 6 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n
Wide Spread Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nQuote Data and Yield Notes<\/td>\n<\/tr>\n
CCS.PR.C<\/td>\nInsurance Straight<\/td>\nQuote: 19.71 – 21.00
\nSpot Rate : 1.2900
\nAverage : 0.9654<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-06-15
\nMaturity Price : 19.71
\nEvaluated at bid price : 19.71
\nBid-YTW : 6.37 %<\/td>\n<\/tr>\n

BN.PF.A<\/td>\nFixedReset Disc<\/td>\nQuote: 18.72 – 20.00
\nSpot Rate : 1.2800
\nAverage : 0.9936<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-06-15
\nMaturity Price : 18.72
\nEvaluated at bid price : 18.72
\nBid-YTW : 8.91 %<\/td>\n<\/tr>\n

MFC.PR.N<\/td>\nFixedReset Ins Non<\/td>\nQuote: 16.20 – 17.00
\nSpot Rate : 0.8000
\nAverage : 0.5424<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-06-15
\nMaturity Price : 16.20
\nEvaluated at bid price : 16.20
\nBid-YTW : 8.91 %<\/td>\n<\/tr>\n

MFC.PR.M<\/td>\nFixedReset Ins Non<\/td>\nQuote: 16.70 – 17.35
\nSpot Rate : 0.6500
\nAverage : 0.4207<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-06-15
\nMaturity Price : 16.70
\nEvaluated at bid price : 16.70
\nBid-YTW : 8.82 %<\/td>\n<\/tr>\n

BIK.PR.A<\/td>\nFixedReset Disc<\/td>\nQuote: 23.10 – 23.60
\nSpot Rate : 0.5000
\nAverage : 0.3542<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-06-15
\nMaturity Price : 22.52
\nEvaluated at bid price : 23.10
\nBid-YTW : 8.22 %<\/td>\n<\/tr>\n

BIP.PR.A<\/td>\nFixedReset Disc<\/td>\nQuote: 17.05 – 17.50
\nSpot Rate : 0.4500
\nAverage : 0.3285<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-06-15
\nMaturity Price : 17.05
\nEvaluated at bid price : 17.05
\nBid-YTW : 9.96 %<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

The clown show at Canaccord is taking an intermission: Executives at Canaccord Genuity Group Inc. have officially scrapped their all-cash $1.1-billion management buyout offer, ending a fight that turned into a hostile takeover from within …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-45401","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/45401","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=45401"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/45401\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=45401"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=45401"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=45401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}