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Stock impact report

TSX Accepts Notice of Intention to Make Normal Course Issuer Bid

Magna International, Inc. (MGA) 
Last magna international, inc. earnings: 2/21 05:00 am Check Earnings Report
US:NYSE Investor Relations: magna.com/investors
Company Research Source: GlobeNewswire
AURORA, Ontario, Nov. 12, 2018 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG, NYSE: MGA) today announced that the Toronto Stock Exchange ("TSX") had accepted its Notice of Intention to Make a Normal Course Issuer Bid (the "Notice"). Pursuant to the Notice, Magna may purchase up to 33,200,000 Magna Common Shares (the "Bid"), representing approximately 10% of its public float. As at November 2, 2018, Magna had 334,257,524 issued and outstanding Common Shares, including a public float of 332,209,834 Common Shares. The primary purposes of the Bid are purchases for cancellation, as well as purchases to fund Magna’s stock-based compensation awards or programs and/or Magna’s obligations to its deferred profit sharing plans. Magna may purchase its Common Shares, from time to time, if it believes that the market price of its Common Shares is attractive and that the purchase would be an appropriate use of corporate funds and in the best interests of the Corporation. The Bid will com Show less Read more
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