Canaccord's management flags regulatory risk to its planned take-private deal

(Reuters) -Canaccord Genuity Group Inc's management-led group, which has offered to take the company private, gave no assurance of completing its C$1.13 billion ($850 million) deal due to delays in securing regulatory approvals.

Even if the deal proceeds, terms could change, the group said on Monday.

Shares of Canaccord, which offers wealth management, investment banking and broker research services, were down 10.74% at C$9.31 in early trading.

Since the bid was announced in January, shares have risen 8%.

The statement comes months after a special committee of independent directors spurned the C$11.25 per share bid for being too low.

Its financial adviser, RBC Capital Markets, had suggested that an offer of C$12.75-C$15.75 would be fair, the committee said at the time.

The management group had been looking to take the firm private on valuation concerns.

Worries over regulatory approval also forced Canada's Toronto-Dominion Bank Group to call off its $13.4 billion takeover of First Horizon Corp last week.

(Reporting by Siddarth S in Bengaluru; Editing by Anil D'Silva)