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

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

Air Canada stock hits new high on news of exclusive talks to buy Transat AT

Air Canada stock hits new high on news of exclusive talks to buy Transat AT
MONTREAL — Air Canada’s interest in buying rival Transat AT Inc. for about $520 million got positive feedback from industry watchers and stock traders after the two companies announced Thursday that they’re in exclusive talks to finalize a deal. The two companies say Air Canada — the country’s largest airline — would pay $13 per share for Transat, the Montreal-based owner of Air... Read More

Transat in exclusive talks with Air Canada to be acquired for $13 per share

Transat in exclusive talks with Air Canada to be acquired for $13 per share
MONTREAL — Transat AT Inc. is in exclusive talks with Air Canada, which is offering roughly $488 million to buy the travel company. The Montreal-based company says it has agreed to a 30-day period of exclusive negotiations regarding a possible deal at a price of $13 per share. Transat shares closed at $10.58 on the Toronto Stock Exchange on Wednesday. The company offers vacation packages,... Read More

CPP Investment Board posts 8.9% return for 2018-19, adds $35.9B to assets

CPP Investment Board posts 8.9% return for 2018-19, adds $35.9B to assets
TORONTO — Canada Pension Plan Investment Board recovered from a weak quarter in late 2018 to produce a solid 8.9 per cent net return for its most recent financial year. The Toronto-based investment manager for the Canada Pension Plan announced Wednesday that its CPP Fund had $392.0 billion of net assets as of March 31, up $35.9 billion from the end of... Read More

Aurora Cannabis growing storage to prepare for derivatives launch next fall

Aurora Cannabis growing storage to prepare for derivatives launch next fall
Aurora Cannabis Inc. is building up inventory in anticipation of the legalization of edibles and vaping products next fall, but insists that won’t interrupt its sales growth and march to profitability. Production is expected to grow to 25,000 kilograms in the current quarter ended June 30, but an unspecified portion will be held out of the market, said chief financial officer Glen Ibbott... Read More

Restaurant Brands plans to grow to more than 40K restaurants in the coming years

Restaurant Brands plans to grow to more than 40K restaurants in the coming years
The parent company of Tim Hortons plans to grow its three fast-food chains to more than 40,000 locations around the world over the next eight to 10 years. “Forty thousand restaurants worldwide will put us amongst the largest restaurant companies in the world,” said CEO Jose Cil at the company’s first investor day in New York on Wednesday. Restaurant Brands... Read More

American Express buys restaurant reservation service Resy

American Express buys restaurant reservation service Resy
NEW YORK — American Express is buying the online reservation startup Resy, the companies announced Wednesday, the latest move by AmEx to establish and maintain a foothold for its card members in some of the world’s most desired restaurants. AmEx and Resy, founded in 2014, declined to disclose the terms of the deal. However, in early 2017 Resy announced it... Read More

Aurora Cannabis cuts quarterly loss to $158M while growing sales to a new high

Aurora Cannabis cuts quarterly loss to $158M while growing sales to a new high
EDMONTON — Aurora Cannabis Inc. is reporting 20 per cent higher revenue and a 33 per cent lower net loss for the first three months of 2019 compared with the last quarter of 2018. The Edmonton-based company credited higher production and sales for a $158-million loss on net revenue of $65 million, compared with a loss of $238 million on revenue of $54 million in... Read More