TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,939.61, down 11.09 points.)
Bombardier Inc. (TSX:BBD.B). Industrials. Down four cents, or 2.08 per cent, to $1.88 on 9.6 million shares.
Storm Resources Ltd. (TSX:SRX). Energy. Up six cents, or 4.2 per cent, to $1.49 on 7.9 million shares.
Orla Mining Ltd. (TSX:OLA). Materials. Down five cents, or 2.92 per cent, to $1.66 on 7.2 million shares.
Aurora Cannabis Inc. (TSX:ACB). Health care. Down 10 cents, or 3.01 per cent, to $3.22 on 7.2 million shares.
MEG Energy Corp. (TSX:MEG). Energy. Up 10 cents, or 1.55 per cent, to $6.56 on 5.9 million shares.
Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Down 20 cents, or 0.51 per cent, to $38.87 on 5.5 million shares.
Companies in the news:
Hudson’s Bay Co. (TSX:HBC). Down 35 cents or four per cent to $8.43. Glass Lewis is recommending that Hudson’s Bay Co. shareholders accept a takeover offer by a group led by the retailer’s executive chairman, an opinion that contrasts with a rejection issued earlier by another advisory firm. Glass Lewis said the proposal offers shareholders certainty of value for their HBC shares at a sizable market premium and a relatively attractive valuation. The Richard Baker-led group has offered $10.30 per share, a bid that is less than the $11 per share offered by dissident shareholder Catalyst Capital Group. Glass Lewis said some shareholders may be holding out for the possibility that the group led by Baker might eventually back an alternative offer, but said there was “no compelling evidence” that might happen.
WestJet Airlines Ltd. (TSX:WJA). Up 45 cents to $30.98. WestJet Airlines Ltd. shareholders won’t be receiving a quarterly dividend this month after Onex Corp. announced the completion of its acquisition of the Calgary-based airline. WestJet and Onex say the payment won’t be made because the deal has closed before Dec. 18. The airline’s board of directors had declared a 14 cents per share dividend on Oct. 28 to be paid on Dec. 31 to shareholders of record next week. The Toronto-based private equity firm and its affiliated funds say the deal closed following a final regulatory approval Tuesday by the Canadian Transportation Agency that found WestJet continued to meet Canadian ownership and control requirements following its purchase by Onex.
Air Canada (TSX:AC). Up 83 cents to $49.39. Transport Minister Marc Garneau said Wednesday he has spoken with Air Canada about problems continuing to plague its new booking system on the cusp of holiday travel season, but that resolving them is beyond his reach. The airline introduced the new reservation system more than three weeks ago, triggering a barrage of social media complaints from passengers who had difficulty accessing their booking information or reaching customer service agents.
This report by The Canadian Press was first published Dec. 11, 2019.
The Canadian Press