Euan's Feed
Jan 14, 2014

Osisko bid comes after many spurned proposals -Goldcorp

TORONTO, Jan 14 (Reuters) – Goldcorp Inc
commenced its formal bid for Osisko Mining Corp on
Tuesday, saying that it chose to proceed with the unsolicited
offer after a long series of frustrated attempts to engage
Osisko in discussions about a possible deal.

In a takeover bid circular, filed with securities regulators
on Tuesday, Goldcorp gave details of a series of attempts, since
2008, to reach a friendly deal with Osisko.

Jan 13, 2014

Canada’s Dundee to expand wealth management business

TORONTO, Jan 13 (Reuters) – Dundee Goodman Private Wealth, a
unit of Dundee Securities Ltd, said on Monday a group of about
60 investment advisers and their staff are transferring to
Dundee from Richardson GMP.

The move will greatly expand Dundee’s wealth management
unit, giving the firm more than 100 investment advisers across
Canada, who manage portfolios worth over C$6 billion ($5.5
billion).

Jan 13, 2014

Goldcorp offers C$2.6 billion to acquire Osisko Mining

TORONTO (Reuters) – Goldcorp Inc (G.TO: Quote, Profile, Research, Stock Buzz) launched an unsolicited cash-and-stock bid to acquire smaller rival Osisko Mining Corp (OSK.TO: Quote, Profile, Research, Stock Buzz) for C$2.6 billion ($2.4 billion) on Monday, in a move to gain control of Osisko’s Malartic gold mine in Quebec.

The takeover bid is the Canadian gold sector’s first major attempt at a merger and acquisition deal in nearly a year. Miners stung by a 25 percent drop in the price of gold over the last 12 months have focused on cutting costs and slowing down work on growth projects.

Jan 9, 2014

RBC leads banks in slow year for Canada M&A, share issues

TORONTO, Jan 9 (Reuters) – Royal Bank of Canada led
investment banks in advising on equity issues and mergers and
acquisitions in Canada in 2013, but share issues overall rose
only slightly in the year and M&A activity fell hard.

In a year in which gold prices plunged and base-metal and
oil industry activity was hit by uncertainty over global
economic growth, the total value of M&A deals in 2013 fell by 31
percent to US$144.7 billion, according to data released by
Thomson Reuters on Thursday.

Jan 9, 2014

RBC leads banner year in Canadian debt markets

TORONTO, Jan 9 (Reuters) – Low interest rates and favorable
market conditions spurred a banner year for corporate and
government debt issues in Canada in 2013, with Royal Bank of
Canada emerging as the big winner among banks that worked
on the deals.

RBC, Canada’s largest bank, was the lead book runner on the
lion’s share of the issues, accounting for about 22 percent of
overall debt deal volumes in 2013, according to data released by
Thomson Reuters on Thursday.

Dec 24, 2013

Centerra, Kyrgyzstan reach draft deal on Kumtor gold mine

Dec 24 (Reuters) – Centerra Gold Inc said on Tuesday
it has reached a non-binding agreement with the government of
the Kyrgyzstan that could pave the way for joint ownership of
Kumtor, the country’s flagship gold mine.

The mine, which accounted for some 12 percent of the Central
Asian country’s gross domestic product in 2011, has been at the
center of a spiraling controversy for months, with some within
the country demanding that the gold mine be nationalized, while
others have pushed for the country to get a big stake in it.

Dec 23, 2013

Reitmans’ shares rise after Fairfax buys stake

TORONTO (Reuters) – Shares in Reitmans Canada Ltd (RETa.TO: Quote, Profile, Research, Stock Buzz) rose 6.9 percent on Monday, following an announcement by Fairfax Financial Holdings (FFH.TO: Quote, Profile, Research, Stock Buzz) that it has acquired a sizable stake in the Canadian clothing retailer.

Toronto-based Fairfax, led by investor Prem Watsa, disclosed late on Friday that it now owns 13.8 percent of Reitmans’ Class A shares.

Dec 23, 2013

BlackBerry steps back on handset business, shares jump

TORONTO (Reuters) – BlackBerry Ltd said on Friday it was entering a handset production deal that lowers the risk it will have to take more massive writedowns on unsold smartphones, and its shares surged even though it posted dismal quarterly results.

The stock rose as much as 17 percent after the company announced the five-year partnership with FIH Mobile Ltd. The Hong Kong-listed unit of Taiwan’s Foxconn will initially build low-end devices for sale in Indonesia and other emerging markets. BlackBerry said it hoped to expand the fledgling relationship to its top-of-the-line smartphones.

Dec 20, 2013

BlackBerry reports huge quarterly loss

TORONTO (Reuters) – BlackBerry LtdTO>, which gave up on a plan to sell itself last month, reported a massive quarterly loss on Friday, as sales of its smartphones shriveled and it booked asset impairment charges and inventory writedowns.

The company, which announced a five-year partnership with Foxconn Technology Co Ltd to develop and manufacture a handset for Indonesia and other emerging markets, conceded that its biggest challenge was still in its core handset business.

Dec 18, 2013

BlackBerry names former SAP executive to head key business segment

TORONTO (Reuters) – BlackBerry Ltd said on Tuesday that John Sims will join the company as head of its global enterprise services business, a key segment that is likely to be at the core of the smartphone maker’s turnaround plan.

Waterloo, Ontario-based BlackBerry said Sims will join the company in January from software giant SAP AG, where he served as president of SAP’s mobile services business.

    • 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."
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