Power Corporation of Canada

09:55 AM EST - Power Corporation of Canada : And Power Financial Corporation 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 Corporation of Canada shares T.POW are trading up $2.17 at $34.07.