TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (17,056.36, up 53.23 points.)
Largo Resources Ltd. (TSX:LGO). Materials. Down 11 cents, or 9.65 per cent, to $1.03 on 10.6 million shares.
Encana Corp. (TSX:ECA). Energy. Up 22 cents, or 3.96 per cent, to $5.78 on 8.8 million shares.
Aurora Cannabis Inc. (TSX:ACB). Health care. Down 16 cents, or 4.61 per cent, to $3.31 on 7.6 million shares.
First Capital Realty Inc. (TSX:FCR). Real estate. Down 19 cents, or 0.91 per cent, to $20.80 on 5.6 million shares.
Cineplex Inc. (TSX:CGX). Telecommunications. Up $9.94, or 41.4 per cent, to $33.95 on 5.5 million shares.
Algonquin Power & Utilities Corp. (TSX:AQN). Utilities. Up 16 cents, or 0.86 per cent, to $18.75 on 5.4 million shares.
Companies in the news:
Hudson’s Bay Co. (TSX:HBC). Down 22 cents or 2.5 per cent to $8.66. Hudson’s Bay Co. will postpone a shareholder vote on a takeover offer after an Ontario Securities Commission ruling and as a dissident shareholder threatens to “take additional steps” if the retailer fails to reconsider its higher-priced offer. The department store chain had scheduled a meeting for Tuesday for shareholders to decide on a $10.30 per share privatization offer led by HBC’s executive chairman Richard Baker. A new date will be scheduled as soon as practicable, HBC said. The retailer also will provide shareholders with an amended management information circular, it said, with additional information as required by the OSC.
Cineplex Inc. — Canada’s largest movie chain has agreed to a $2.8-billion friendly takeover deal as theatres struggle with declining attendance amid increased competition for moviegoers’ attention. U.K.-based Cineworld Group PLC will pay $34 per Cineplex share in cash, which amounts to a 42 per cent premium to the closing price for the chain’s shares Friday. Cineworld will also take on the debt owed by Toronto-based Cineplex. Cineplex’s board of directors recommends shareholders vote for the acquisition. If the deal is approved, Cineplex and its 165 movie theatres across Canada will become part of Cineworld’s global chain, listed on the London Stock Exchange.
Bausch Health Companies Inc. (TSX:BHC). Down $1 or 2.4 per cent to $39.89. Bausch Health Companies Inc. says it will pay more than $1 billion to settle a lawsuit over a stock plunge that hit investors about four years ago. The settlement allows the Quebec-based firm, previously known as Valeant Pharmaceuticals, to further emerge from the tide of litigation that has seen more than 160 cases settled or resolved since 2017. Bausch Health says the US$1.21-billion agreement will resolve all claims against it in the so-called Valeant stock drop case, its largest securities class action, which was filed in a U.S. district court in October 2015. A Canadian class action, among other legal claims, is ongoing.
Hexo Corp. (TSX:HEXO). Down 10 cents or 3.4 per cent to $2.85. Cannabis company Hexo Corp. says it lost $62.4 million in its latest quarter compared with a loss of $12.8 million in the same quarter last year. The loss amounted to 24 cents per diluted share for the quarter ended Oct. 31, compared with a loss of seven cents per share a year ago when the company had fewer shares outstanding. Net revenue for what was the first quarter of the company’s financial year totalled $14.5 million, up from $5.7 million a year ago. Hexo announced in October that it was cutting 200 jobs to adjust for expected future revenues and “ensure the long-term viability” of the firm. The company said it took a corporate restructuring charge of $3.7 million in the quarter related to severance and other payroll related termination costs.
This report by The Canadian Press was first published Dec. 16, 2019.
The Canadian Press
