Air Canada’s $520M bid for Transat unlikely to be topped: analysts

Air Canada’s $520M bid for Transat unlikely to be topped: analysts
Analysts say it’s unlikely another bidder will emerge to trump Air Canada’s $520-million proposed takeover of rival Transat AT Inc. Air Canada announced Thursday it had entered into a 30-day exclusive arrangement to try to negotiate the purchase of the parent company of airline Air Transat for $13 per share. Transat shares were unchanged Friday after rising more than 13.4 per cent on... Read More

Stocks in Toronto edge down, while U.S. stock markets up; loonie slips lower

Stocks in Toronto edge down, while U.S. stock markets up; loonie slips lower
TORONTO — Canada’s main stock index edged lower in late-morning trading, hurt by losses in the key energy and financial sectors. The S&P/TSX composite index was down 4.72 points at 16,439.14. In New York, the Dow Jones industrial average was up 55.35 points at 25,918.03. The S&P 500 index was up 4.88 points at 2,881.20, while the Nasdaq composite was... Read More

IIROC gains ability to enforce fines in Saskatchewan through the courts

IIROC gains ability to enforce fines in Saskatchewan through the courts
REGINA — The Saskatchewan government has passed legislation that gives the Investment Industry Regulatory Organization of Canada the ability enforce its fines through the courts. The legislation also clarifies IIROC’s right to appeal a decision by a disciplinary hearing panel to the Financial and Consumer Affairs Authority of Saskatchewan. The change means IIROC can enforce its fines through the courts in... Read More

SNC cancels sale of 407 stake to OMERS as existing partners battle over stake

SNC cancels sale of 407 stake to OMERS as existing partners battle over stake
MONTREAL — SNC-Lavalin Group Inc. has cancelled the sale of part of its stake in 407 International Inc. to the OMERS pension plan but will sell the stake to one or both of the other owners of the Ontario toll highway. The Montreal-based company said Friday the Canada Pension Plan Investment Board, which already owns a 40 per cent stake in 407 International Inc.,... Read More

CAE reports fourth-quarter profit and revenue up from year ago mark

CAE reports fourth-quarter profit and revenue up from year ago mark
MONTREAL — Flight training company CAE Inc. topped expectations as it reported higher fourth-quarter profit and revenue compared with a year ago. The Montreal-based company says it earned $122.3 million attributable to shareholders or 46 cents per share for the quarter ended March 31, compared with a profit of $82.3 million or 31 cents per share a year ago. Revenue totalled $1.02 billion, up... Read More