Market Report -- In Play (MGA)
November 5, 2009 5:08 PM ET
Magna beats by $0.64, beats on revs Reports Q3 (Sep) earnings of $0.45 per share,
$0.64 better than the First Call consensus of ($0.19); revenues fell 15.6% year/year to $4.67 bln vs the $4.53 bln consensus. "Our Board of Directors has approved the redemption of all of our outstanding 6.5% Convertible Subordinated Debentures (the "Debentures") for cash on December 7, 2009. The Debentures are redeemable at a price equal to 100% of the principal amount of the Debentures to be redeemed, plus accrued and unpaid interest thereon to, but excluding, the date of redemption. The aggregate principal amount of Debentures currently outstanding is Cdn. $99,998,000."
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