Euan's Feed
Oct 20, 2014

Amaya Gaming to explore sale of Cadillac Jack subsidiary

TORONTO, Oct 20 (Reuters) – Amaya Gaming Group Inc,
which has pivoted to focus on the fast-growing online gambling
market, said on Monday it is exploring a sale of its Cadillac
Jack subsidiary that makes slot machines and electronic bingo
games for casinos.

Earlier this summer, Montreal-based Amaya closed on the $4.9
billion takeover of Rational Group, operator of online gambling
website PokerStars, just as several U.S. states have begun to
move on legislation to legalize online gambling.

Oct 20, 2014

Canadian Pacific Railway ends merger talks with CSX

Oct 20 (Reuters) – Canadian Pacific Railway Ltd said
on Monday that it had ended talks to buy CSX Corp and
that the two companies planned no further discussions, sending
shares of the No. 3 U.S. railroad operator down nearly 3
percent.

A source familiar with the matter told Reuters recently that
the two railroads had held exploratory talks this month and that
they were contemplating whether to take things further. Neither
side had confirmed the talks, first reported by the Wall Street
Journal a week ago.

Oct 20, 2014

BlackBerry shares up after unconfirmed report on possible Lenovo bid

TORONTO (Reuters) – BlackBerry (BB.TO: Quote, Profile, Research, Stock Buzz) (BBRY.O: Quote, Profile, Research, Stock Buzz) shares rose more than 3 percent on Monday after a news website said Chinese computer maker Lenovo Group (0922.HK: Quote, Profile, Research, Stock Buzz) might offer to buy the Canadian technology company.

Benzinga.com, citing an unnamed source familiar with the matter, said an offer worth $15 a share could come as early as this week.

Oct 8, 2014

Ontario court OKs U.S. Steel debtor financing for unit

TORONTO, Oct 8 (Reuters) – A provincial court on Wednesday
approved U.S. Steel Corp’s C$185 million ($167 million)
debtor-in-possession (DIP) financing facility for the company’s
Canadian unit and extended its protection from creditors until
late January.

The subsidiary, U.S. Steel Canada, said the funding should
allow it to operate until the end of 2015.

Oct 6, 2014

Postmedia to buy Sun Media assets, create dominant Canadian newspaper chain

TORONTO (Reuters) – Postmedia Network (PNCa.TO: Quote, Profile, Research) said on Monday it will buy Quebecor Inc’s (QBRb.TO: Quote, Profile, Research) Sun Media newspaper assets for C$316 million (£176.4 million) in a deal that would give a single publisher control of most of the major English-language dailies in Canada.

The agreement, likely to be closely scrutinized by antitrust authorities, would transform the country’s newspaper landscape, making Postmedia the owner of competing major local dailies in cities such as Ottawa, Edmonton and Calgary.

Oct 6, 2014

Postmedia deal for Quebecor newspapers to create dominant Canada chain

TORONTO (Reuters) – Postmedia Network (PNCa.TO: Quote, Profile, Research, Stock Buzz) said on Monday it will buy Quebecor Inc’s (QBRb.TO: Quote, Profile, Research, Stock Buzz) Sun Media assets for C$316 million ($282 million) in a sale that would create the dominant English-language newspaper publisher in Canada.

The deal, which will be closely scrutinized by competition authorities, would transform the country’s newspaper landscape, making Postmedia the owner of both of the competing major local dailies in cities such as Ottawa, Edmonton and Calgary.

Oct 3, 2014

Gold miner Iamgold to sell niobium mine for $500 mln

Oct 3 (Reuters) – Iamgold Corp said on
Friday it has agreed to sell its niobium mine in Quebec to a
group of companies led by investment firm Magris Resources Inc
for $500 million in cash, to focus on its core gold mining
business.

The long-planned sale of the Niobec mine, located some
200-km north of Quebec City, includes an adjacent rare earth
metals deposit.

Sep 29, 2014

Encana to buy Athlon for $5.93 billion in push for oil

CALGARY/TORONTO (Reuters) – Canada’s Encana Corp (ECA.TO: Quote, Profile, Research) said on Monday it will buy Athlon Energy Inc (ATHL.N: Quote, Profile, Research) for $5.93 billion in cash, taking aim at Athlon’s oil-rich lands in Texas’s Permian Basin and at jump-starting its plan to boost output of lucrative oil and natural-gas liquids.

Encana, Canada’s largest natural-gas producer, is offering $58.50 per Athlon share, a 25 percent premium on the stock’s Friday closing price. The deal would give the Calgary-based company control of about 140,000 acres in the oil-rich Permian Basin, where Encana says it can raise liquids output by two thirds, to 50,000 barrels per day, by 2015.

Sep 29, 2014

BlackBerry teases new device plans as turnaround takes shape

TORONTO (Reuters) – Even as BlackBerry pivots to focus more on software and services, the company that gained fame for its smartphones is not giving up on its handset business, two senior executives said.

After recording a gross profit from its weakened handset operation and with roughly 50 million people globally still using its older-generation BlackBerry phones, there is potential in that business, the executives said.

Sep 29, 2014

Canada’s Encana to buy Athlon Energy for $5.93 bln

TORONTO, Sept 29 (Reuters) – Canada’s largest natural gas
producer Encana Corp said on Monday it has agreed to
buy Athlon Energy for $5.93 billion in cash, as it
accelerates its plan to focus on more lucrative oil and
natural-gas liquids (NGLs).

The deal, which gives Calgary-based Encana control of about
140,000 net acres in the oil-rich Permian Basin in Texas, adds
another core region to the six shale fields where Encana is
concentrating its spending.

    • About Euan

      "Euan Rocha covers mining and minerals in Canada, where he focuses on gold, base metals and fertilizer companies. Euan, who is currently based in Toronto, has previously worked with Reuters in the United States and India. While based in New York for four years, Euan headed the Reuters Alerts team, before moving on to cover the U.S. chemical industry. Euan began his career with Reuters in Bangalore, India in 2004."
    • Follow Euan