Euan's Feed
Jul 2, 2014

Tuckamore says ISS view of buyout plan flawed

TORONTO, July 2 (Reuters) – Tuckamore Capital Management Inc
, which invests in early- and mid-stage private
companies, said on Wednesday it believes a leading proxy
advisory firm’s recommendation against a proposed management-led
buyout of Tuckamore is flawed.

The buyout plan, backed by private equity firm Birch Hill
Equity Partners, has already faced significant public opposition
from shareholders that control close to 30 percent of
Tuckamore’s shares. Earlier this week proxy advisory firm ISS,
or Institutional Shareholder Services, advised its clients not
to back the proposal.

Jun 26, 2014

Canada’s Tuckamore fires back at dissident investor Access Holdings

TORONTO, June 26 (Reuters) – Tuckamore Capital Management
Inc fired back at dissident investor Access Holdings
Management Co LLC on Thursday, saying that Access had previously
tried to seize control of Tuckamore without paying a premium to
all shareholders.

Earlier this week, Access said it plans to vote the shares
it controls against Tuckamore’s proposed management-led buyout
as it materially undervalues the holding firm that invests in
early- and mid-stage private companies across sectors.

Jun 24, 2014

Investors revolt against management-led buyout of Canada’s Tuckamore

TORONTO, June 24 (Reuters) – Two large groups of investors
that control roughly 20 percent of the shares of Tuckamore
Capital Management Inc have gone public with their
discontent over a management-led buyout of the firm, being
sponsored by Birch Hill, a private equity player.

Canso Investment Counsel Ltd and Access Holdings Management
Co, in separate statements, said they plan to vote shares they
control against the controversial transaction as it materially
undervalues Tuckamore, a holding firm that invests in early- and
mid-stage private companies across all sectors.

Jun 23, 2014

Canada’s SNC-Lavalin to buy UK’s Kentz for $2 billion

TORONTO (Reuters) – Canadian engineering and construction company SNC-Lavalin Group Inc (SNC.TO: Quote, Profile, Research, Stock Buzz) said on Monday that it would acquire British energy services provider Kentz Corp (KENZ.L: Quote, Profile, Research, Stock Buzz) for about 1.164 billion pounds ($1.98 billion) in cash to expand its offerings in the oil and gas sector.

Montreal-based SNC said the acquisition of Kentz would allow it to carry out larger and more complex oil and gas projects. The deal would also give SNC a much greater presence in key growth regions such as the Middle East, North America and Asia Pacific.

Jun 19, 2014

BlackBerry results top forecasts, fueling recovery hopes

WATERLOO Ontario/TORONTO (Reuters) – BlackBerry Ltd posted a narrower-than-expected loss as the troubled smartphone maker’s turnaround efforts started to pay off, raising hopes its chief executive can deliver on a pledge to return the company to steady profits.

Shares jumped more than 10 percent on Thursday after BlackBerry said it spent less cash than many expected and its gross profit margin rose from a year earlier.

Jun 19, 2014

BlackBerry reports better than expected results, shares surge

WATERLOO/TORONTO (Reuters) – BlackBerry Ltd (BBRY.O: Quote, Profile, Research, Stock Buzz) (BB.TO: Quote, Profile, Research, Stock Buzz) reported a smaller-than-expected quarterly loss on Thursday as the smartphone company’s cost cutting and other turnaround efforts started to pay off.

Shares jumped 10 percent in trading before the bell after BlackBerry burned through less of its cash than many expected and reported its gross profit margin rose from a year earlier.

Jun 18, 2014

In deal with Amazon, BlackBerry to offer 240,000 Android apps

TORONTO (Reuters) – BlackBerry Ltd has agreed a licensing deal with Inc that will let the Canadian smartphone maker offer some 240,000 Android applications from Amazon’s app store on its line-up of BlackBerry 10 devices this fall.

The move allows BlackBerry to add a vast array of consumer-focused apps to its devices, and to focus on developing enterprise and productivity applications, the Waterloo, Ontario-based company said in a statement on Wednesday.

Jun 17, 2014

First Quantum to acquire Lumina Copper for $420 mln

TORONTO/VANCOUVER, June 17 (Reuters) – First Quantum
Minerals Ltd said on Tuesday it has agreed to buy Lumina
Copper Corp for about C$456 million ($420 million), in a
bid to win control of Lumina’s Taca Taca copper project in

The cash-and-stock deal values Vancouver-based Lumina at
about C$9.71 a share, a premium of nearly 25 percent to the
company’s closing price on the TSX Venture Exchange on Monday.

Jun 16, 2014

Canadian home resales jump in May as listings spike

TORONTO, June 16 (Reuters) – Sales of existing homes in
Canada jumped in May from April driven by a sharp increase in
listings and a deferred start to the spring buying season after
a long winter, the Canadian Real Estate Association (CREA) said
on Monday.

The industry group for Canadian real estate agents said
sales were up 5.9 percent last month from April, the largest
month-over-month increase in nearly four years. Actual sales for
May, not seasonally adjusted, were up 4.8 percent from May 2013.

Jun 12, 2014

Lululemon sees tough second-quarter, shares tumble

TORONTO, (Reuters) – Lululemon Athletica Inc (LULU.O: Quote, Profile, Research, Stock Buzz) offered little sign on Thursday that it was pulling out of an extended slump, cutting financial forecasts and warning that second-quarter sales at its once-trendy yogawear shops were off to a weak start.

Its shares dropped more than 15 percent after it said purchases were dropping even as customer traffic was picking up. During a conference call, Chief Executive Laurent Potdevin blamed the decline in part on a “suboptimal” product assortment.

    • 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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