With a large number of its minority shareholders opposed to the deal, MI Developments Inc. (MID) announced last Thursday that it pulled its offer to buy Magna Entertainment Corp., sending Magna’s shares tumbling Magna’s stock fell 8%, closing at $5.44 per share. At press time, its shares traded at $5.31. Meanwhile, MID’s shares rose 12% to a high of $26.90. At press time, its shares traded at $25.29
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