TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,410.19, up 210.94 points.)
Toronto-Dominion Bank. (TSX:TD). Financials. Up 98 cents, or 1.57 per cent, to $63.48 on 12.1 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Up nine cents, or 0.56 per cent, to $16.04 on 7.4 million shares.
Canadian Natural Resources Ltd. (TSX:CNQ). Up 60 cents, or 2.88 per cent, to $21.40 on 7.3 million shares.
TC Energy Corp. (TSX:TRP). Energy. Down one cent, or 0.02 per cent, to $55.90 on 7.1 million shares.
Bank of Nova Scotia. (TSX:BNS). Financials. Down 29 cents, or 0.52 per cent, to $55.80 on 6.2 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up 63 cents, or 1.63 per cent, to $39.23 on 5.5 million shares.
Companies in the news:
TC Energy Corp. — Pipeline and power company TC Energy Corp. is moving to buy out the other unitholders in TC PipeLines, LP, a U.S. master limited partnership it operates, for about US$1.48 billion (C$1.97 billion) in shares. The Calgary-based company says it will offer 0.65 of a share in the parent company for each TC PipeLines unit, the equivalent of US$27.31 per unit based on the TC Energy’s Friday closing price and reflecting a 7.5 per cent premium to the 20-day volume weighted average price of TC Pipelines. The buyout of the 74.5 per cent of the partnership it doesn’t already own will require TC Energy to issue as many as 35.2 million shares, adding about 3.7 per cent to its 940-million outstanding total.
Calfrac Well Services Ltd. (TSX:CFW). Up three cents or 19.3 per cent to 18.5 cents. Texas-based suitor Wilks Brothers, LLC, is sweetening its hostile takeover offer for Calgary-based Calfrac Well Services Ltd. by raising its bid to 25 cents per share from 18 cents. The bid carries a maximum cash payout of $21.1 million, which Wilks says would cover all of the shareholders other than Matco Investments Ltd. (controlled by Calfrac chairman Ron Mathison) and officers and directors of Calfrac, as well as Wilks’ stake of just under 20 per cent. It says those shareholders have said they won’t sell to Wilks anyway, so the cash will go to those who will. It says it will guarantee in any case that each shareholder would be able to get at least 18 cents in cash.
Heroux-Devtek Inc. (TSX:HRX). Up 10 cents or one per cent to $9.65. Heroux-Devtek Inc. says it has won a multi-year contract with the Boeing Company to manufacture new actuation components for several types of commercial aircraft. The contract win by the company’s CESA subsidiary in Spain includes the supply of production requirements and spare parts for the 787, 777, 777X, 767, and 747. Financial terms of the agreement were not immediately available. The company says it is the largest contract for Heroux-Devtek Spain. Heroux-Devtek specializes in the design, development, manufacture and repair of aircraft landing gear and other components.
This report by The Canadian Press was first published Oct. 5, 2020.
The Canadian Press