Power Financial Corp. purchased 512,200 common shares of Canada Life Financial Corp. on Thursday. The shares were purchased on the Toronto Stock Exchange through Power Financial’s wholly owned subsidiary 3439453 Canada Inc.

In a news release, Power said the prices paid for the shares did not exceed $44.35 per share.

On February 17, Great-West Lifeco Inc. and Canada Life Financial Corp. announced an intention to enter into a combination transaction. Power Financial is the parent company of Great-West Lifeco.

Power Financial has purchased 2,196,200 shares of Canada life at an average price per share of $44.32, since March 22.