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Scotiabank Sweetens Jamaica Buyout Offer by J$1.3 Billion Before Deal Goes Public

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Scotiabank Canada increased its offer to acquire the outstanding minority stake in Scotia Group Jamaica Ltd to J$1.50 per share, a sweetener worth about J$1.3 billion, disclosed in the scheme of arrangement booklet. Talks on improving the price occurred before the offer hit the market, with a revised proposal issued around June 10, ahead of an Oct. 7 court-ordered vote.

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