TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (17,582.35, up 61.38 points.)
Suncor Energy Inc. (TSX:SU). Energy. Down nine cents, or 0.39 per cent, to $22.88 on 27.3 million shares.
Canadian Natural Resources (TSX:CNQ). Down 39 cents, or 1.21 per cent, to $31.76 on 20.3 million shares.
Enbridge Inc. (TSX:ENB). Energy. Down four cents, or 0.09 per cent, to $42.60 on 10.6 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down 24 cents, or 1.03 per cent, to $23.06 on 9.6 million shares.
Barrick Gold Corp. (TSX:ABX). Materials. Up 65 cents, or 2.17 per cent, to $30.66 on 9.3 million shares.
BlackBerry Ltd. (TSX:BB). Technology. Down 32 cents, or 2.94 per cent, to $10.55 on nine million shares.
Companies in the news:
Rocky Mountain Dealerships Inc. (TSX:RME). Down 19 cents or 2.7 per cent to $6.93. Rocky Mountain Dealerships Inc. shareholders are being asked to vote next week in favour of a go-private arrangement after no alternative proposals were made during a 35-day solicitation process. The Calgary-based farm equipment company has called a virtual special meeting for Thursday, Dec. 17, where investors can vote to sell each share they own for $7 to a numbered company controlled by chairman Matthew Campbell and CEO Garrett Ganden. The deal values the company, which says it is the largest farm equipment dealer in Canada with 36 locations in Alberta, Saskatchewan and Manitoba, at $135 million (or $188 million including debt and lease obligations and excluding floor plan payables).
Transat AT. (TSX:TRZ). Down 24 cents or 3.8 per cent to $6.09. Transat AT Inc. says a pair of proxy advisory services have recommended shareholders support its revised deal to be acquired by Air Canada. The revised terms will see Air Canada pay $5 per share for the parent company of Air Transat, compared with the $18 per share originally pledged in its takeover bid. The revision brings the total sale price down by 72 per cent to $190 million from $720 million. The travel company says Institutional Shareholder Services Inc. and Glass, Lewis & Co. LLC have recommended that Transat shareholders vote for the revised acquisition transaction. The offer has been endorsed by Transat’s board of directors but must also be approved by a two-thirds majority vote by Transat’s shareholders at a special meeting set for Dec. 15.
Calfrac Well Services Ltd. (TSX:CFW). Down 2.5 cents or 8.2 per cent to 28 cents. Calfrac Well Services Ltd. says it is planning a $55-million capital spending program for 2021. The oilfield services company says the plan consists primarily of maintenance capital expenditures. Calfrac president and chief operating officer Lindsay Link says the company continues to see improved market conditions in all operating areas, and will monitor opportunities to improve utilization and returns on its active fleet before considering further additions to its footprint. The company fought off a hostile takeover attempt earlier this year by Texas-based rival Wilks Brothers LLC. Wilks Brothers had opposed Calfrac’s recapitalization plan to have the holders of senior unsecured notes swap debt for shares, leaving existing shareholders with a reduced stake in the company.
This report by The Canadian Press was first published Dec. 7, 2020.
The Canadian Press