Power Financial Corporation

10:00 AM EST - Power Financial Corporation : And Power Corporation of Canada today announced the execution of a definitive agreement to effect a reorganization transaction pursuant to which each common share of PFC held by holders of PFC Common Shares other than PCC and certain of its affiliates, will be exchanged for 1.05 subordinate voting shares of PCC and $0.01 in cash. Upon completion of the Reorganization, PCC will own all of the PFC Common Shares, while PFC preferred shares and debt securities will remain outstanding. Power Financial Corporation shares T.PWF are trading up $2.78 at $35.55.