CI Financial (CIX.TO) said on Wednesday it would "vigorously defend" its shareholder rights plan and deemed "inaccurate" recent comments aimed at the fund manager by Rick Waugh, chief executive of Bank of Nova Scotia, CI's largest shareholder. The plan is aimed at preventing a hostile takeover of the independent wealth manager and prevents Scotiabank, which owns just over 36 percent of CI, from selling a block of 20 percent or more of CI shares. Independent shareholders of CI will vote on a three-year extension of the plan at the annual meeting this year. Scotiabank, which is not an independent shareholder under the terms of the plan, will not have a vote.
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