TORONTO, Jan 27 (Reuters) – Iron ore and coal miner Cliffs
Natural Resources has become the third major U.S.
company in the past six months to seek creditor protection for
its Canadian arm to try to isolate losses and protect
The miner said it had commenced restructuring proceedings in
Montreal on Tuesday. The move mirrors the route taken by U.S.
Steel, which sought creditor protection for its
money-losing Canadian operations in September, and by U.S.
discount retailer Target Corp, which announced this
month it was abandoning its Canadian expansion.
TORONTO, Jan 22 (Reuters) – A Canadian Supreme Court ruling
on Thursday about a tiny landfill deal in British Columbia is
set to make it a lot harder for Canada’s competition watchdog to
challenge potentially anti-competitive deals between companies,
The ruling by Canada’s top court foiled the Competition
Bureau’s bid to unwind privately-held Tervita’s acquisition of a
hazardous waste disposal services company, that at the time of
the deal had just secured regulatory approval to open a waste
disposal facility in Northeastern British Columbia.
TORONTO, Jan 19 (Reuters) – Goldcorp Inc said on
Monday it has agreed to buy Probe Mines Ltd in an
all-stock deal that values the metals exploration company at
C$526 million ($439 million), in a bid to win control of the
Borden Gold project in northern Ontario.
The project, located some 200 km (125 miles) southwest of
the gold mining hub of Timmins, Ontario, is viewed as one of the
most promising new gold discoveries in Canada.
TORONTO (Reuters) – Goldman Sachs Group Inc (GS.N: Quote, Profile, Research, Stock Buzz) led investment banks advising on mergers and acquisitions in Canada in 2014, a year in which big international oil and gas deals were hot before oil prices turned cold.
Before the fourth-quarter collapse of oil prices, Canadian M&A activity last year was dominated by big energy-sector deals such as Spanish oil giant Repsol SA’s (REP.MC: Quote, Profile, Research, Stock Buzz) $8.3 billion bid for Talisman Energy (TLM.TO: Quote, Profile, Research, Stock Buzz) and Encana Corp’s (ECA.TO: Quote, Profile, Research, Stock Buzz) $5.9 billion buyout of U.S. rival Athlon.
TORONTO, Jan 8 (Reuters) – Bank of Nova Scotia led
investment banks in Canada in the value of equity issues it
advised on in 2014, driven by a few high-profile initial public
offerings and some big oil and gas deals before the oil-price
rout in the year’s second half.
Equity issues worth C$37.3 billion ($31.6 billion) were done
in Canada last year, up from C$34.1 billion in 2013, data from
Thomson Reuters showed on Thursday. Scotiabank advised on C$5.5
billion, followed by RBC Capital Markets with C$5.4
billion and BMO Capital Markets with C$4.7 billion.
NEW YORK/TORONTO, Dec 17 (Reuters) – BlackBerry Ltd
launched its long-awaited Classic on Wednesday,
a smartphone it hopes will help it win back market share and woo
those still using older versions of its physical keyboard
The Canadian mobile technology company said the new device,
which bears striking similarities to its once wildly popular
Bold and Curve handsets, boasts a larger screen, longer battery
life, an expanded app library with access to offerings from
Amazon.com Inc’s Android App store, and a browser three
times faster than the one on its legacy devices.
TORONTO (Reuters) – The parent of Canada’s Porter Airlines is nearing the sale of a passenger terminal it operates at Toronto’s Billy Bishop Airport, according to three sources familiar with the process.
The sources, who asked not to be named as they are not authorized to publicly comment on the matter, said a bidding process for the asset on the island airport is underway.
TORONTO, Dec 15 (Reuters) – The parent of Canada’s Porter
Airlines is nearing the sale of a passenger terminal it operates
at Toronto’s Billy Bishop Airport, according to three sources
familiar with the process.
The sources, who asked not to be named as they are not
authorized to publicly comment on the matter, said a bidding
process for the asset on the island airport is underway.
OTTAWA (Reuters) – Canadian consumers may have ended up
paying higher prices for cellphones and wireless services
because of contracts between Apple Inc’s Canadian unit
and domestic carriers, the Canadian Competition Bureau said in a
court filing this week.
The affidavit made on Tuesday by the Competition Bureau’s
Vincent Millette listed several ways the agreements with the
phone companies may have prevented or lessened competition.
WASHINGTON/TORONTO (Reuters) – German auto supplier
Continental AG won both U.S. and Canadian antitrust
approval to buy Veyance Technologies, a U.S.-based maker of
industrial hoses and belting, on condition that it sells certain
assets, regulators said on Thursday.
The U.S. Department of Justice said it approved the proposed
1.4 billion euro ($1.73 billion) deal for Ohio-based Veyance if
Veyance sold its North American commercial vehicle air springs