Desmarais

  • Desmarais family rejects bid to collapse Power Corp. dual-class share structure

    Jan. 15, 2020
    David Milstead, The Globe and Mail

    Power Financial Corp. directors urged Montreal's Desmarais family to create a provision to allow for the eventual elimination of the dual-class share structure that gives the family control over parent company Power Corp. - but the Desmarais clan rejected the proposal.

    The suggestion came during negotiations between the two companies late last year after Power Corp. proposed a plan to buy the minority stake in Power Financial that it doesn't already own, according to disclosures published Tuesday in a shareholder takeover bid circular.

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