TORONTO, June 27, 2013 /CNW/ - CIBC (TSX: CM) (NYSE: CM) is providing additional disclosure on the press
release issued by Aimia earlier today:
We have reviewed the proposed terms of the new contract provided by
Aimia late yesterday.
Upon legal review, we have concluded that the notice and document
provided by Aimia to CIBC appears to have been intentionally structured
in a way that attempts to nullify CIBC's right of first refusal and any
ability to match.
Given the structuring of the document and our contractual rights, we are
exploring our options.
CIBC is a leading North American financial institution with more than 11
million personal banking and business clients. CIBC offers a full range
of products and services through its comprehensive electronic banking
network, branches and offices across Canada, and has offices in the
United States and around the world. You can find other news releases
and information about CIBC in our Media Centre on our corporate website
For further information:
Kevin Dove, Head of External Communications at 416-980-8835, firstname.lastname@example.org.