Great-West Lifeco warns investors about Ocehan LLC’s mini-tender offer

Great-West Lifeco , a Canadian financial services company, has issued a warning about an unsolicited mini-tender offer by Ocehan LLC. This offer seeks to buy up to 50,000 of Lifeco’s shares from Canadian investors at a price about 19.7% below the market value as of October 24, 2024.

Lifeco does not support or recommend the offer, which operates under limited regulatory oversight. Mini-tender offers like this avoid many investor protections and often mislead investors into selling shares below market value. Lifeco advises shareholders to check the current share price and consult a financial advisor before making any decisions. Those who already agreed to the offer can withdraw their shares within 30 days by following Ocehan’s instructions.

For more details about mini-tender risks, visit the Manitoba Securities Commission’s website.

Great-West Lifeco is an international financial services company headquartered in Winnipeg, Canada, operating brands like Canada Life, Empower, and Irish Life. It serves 40 million customers and trades under the ticker TSX.