Article below. Anyone see an impact on Antibe as a result?
https://financialpost.com/fp-finance/canaccord-genuity-managers-take-firm-private-1-13-billion
Canaccord Genuity Group Inc.’s management group is seeking to take the firm private in a $1.13-billion deal, taking advantage of a plunge in the share price after last year’s turmoil in capital markets. The management group — which includes the firm’s chief executive, chair and more than a dozen other senior executives — owns a combined 21 per cent of the shares, the group said in a statement on Monday. Canaccord’s largest outside shareholder also supports the bid of $11.25 per share, according to the statement. Canaccord’s stock has fallen by 48 per cent since a pandemic-era peak in November 2021, as volatile markets and plunging global equity prices put a chill in the initial public offerings and other transactions the firm specializes in. The deal would return the company — which was founded as a regional brokerage in 1950 — to private markets after 18 years.
“The common shares, which naturally reflect the inherent volatility of the global capital markets in which the company operates, have proven to be not well-suited for trading in a public marketplace,” chief executive Dan Daviau said in the statement. “As an employee-owned business, the company will be able to focus its efforts solely on advancing its proven strategies in ways that serve the best interests of its clients.”