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

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

CAE reports fourth-quarter profit and revenue up from year ago mark

CAE reports fourth-quarter profit and revenue up from year ago mark
MONTREAL — Flight training company CAE Inc. topped expectations as it reported higher fourth-quarter profit and revenue compared with a year ago. The Montreal-based company says it earned $122.3 million attributable to shareholders or 46 cents per share for the quarter ended March 31, compared with a profit of $82.3 million or 31 cents per share a year ago. Revenue totalled $1.02 billion, up... 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

Supreme Cannabis Company acquires Blissco in all-stock deal valued at $48M

Supreme Cannabis Company acquires Blissco in all-stock deal valued at $48M
TORONTO — The Supreme Cannabis Company Inc. has signed a deal to acquire Blissco Cannabis Corp. in an all-stock deal it valued at $48 million. Under the agreement, each Blissco Share will be exchanged for 0.24 of a common share of Supreme Cannabis. Based in Langley, B.C., Blissco operates a 18,000-square-foot production facility and has been producing cannabis oils since... 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

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

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

Shaw Communications selling its stake in Corus Entertainment for $548M

Shaw Communications selling its stake in Corus Entertainment for $548M
CALGARY — Shaw Communications Inc. is selling its stake in Corus Entertainment Inc. for $548 million. Under the deal, the cable and telecommunications company will sell 80.63 million class B Corus shares at a price of $6.80 per share through a secondary offering. Corus shares closed at $8.06 on the Toronto Stock Exchange on Tuesday. The sale represents a roughly 38... Read More