TORONTO (Reuters) – Infidelity website AshleyMadison.com, which has been struggling to launch a London IPO, can kiss goodbye plans for a listing this year, banking sources said on Tuesday, as hackers threatened to publish names and salacious details about its clients unless the website shuts itself down.
The website’s Canadian parent hoped to raise up to $200 million by listing its shares in London this year, five years after a lack of investor appetite caused it to cancel an attempt to list at home.
TORONTO, July 20 (Reuters) – Fairfax Financial Holdings Ltd
said on Monday it has postponed a special shareholders’
meeting that had been called to vote on a change that would
preserve Chairman Prem Watsa’s voting stake in the company he
has built and run for more than three decades.
The Canadian financial services company’s vote, originally
scheduled for July 21, has been postponed until Aug. 13.
TORONTO, July 16 (Reuters) – Canadian automotive parts maker
Magna International Inc said on Thursday it will buy
privately owned German car parts maker Getrag for 1.75 billion
euros ($1.9 billion), in a bid to expand its automotive
transmission systems business.
The move is also part of Aurora, Ontario-based Magna’s plan
to win market leadership in certain key vehicle parts. Earlier
this year, Magna sold most of its automotive interiors unit to
Spain’s Grupo Antolin for $525 million.
TORONTO (Reuters) – BlackBerry Ltd named Carl Wiese as head of global sales on Monday, an appointment that comes at a critical juncture for the former smartphone leader, which needs to spur top-line growth for its turnaround efforts to succeed.
Wiese has spent the past 12 years at Cisco Systems Inc, initially heading advanced technology sales and later Cisco’s collaboration-product sales efforts. At BlackBerry, he replaces John Sims as global head of sales. BlackBerry did not provide any reasons for the departure of Sims, who was at the company for about 18 months.
TORONTO (Reuters) – BlackBerry Ltd (BB.TO: Quote, Profile, Research, Stock Buzz), which has been coy about its ambitions to make a mainstream Android smartphone, fueled more speculation about its plans this week when it scooped up two Android-related domain names.
Several blog posts in the last two days have noted that the Canadian handset maker bought the domain names “AndroidSecured.com” and “AndroidSecured.net” this week. That spurred more chatter that it intends to build a device powered by Google Inc’s (GOOGL.O: Quote, Profile, Research, Stock Buzz) Android platform, which powers the vast majority of smartphones sold across the globe.
TORONTO, July 6 (Reuters) – A raft of Canadian companies set
up with a mandate to make acquisitions and led by prominent Bay
Street names is taking advantage of buoyant capital markets and
strong demand from institutional investors.
Several other such vehicles are set to flood the Canadian
market this year and are in the process of pitching their cases,
said three banking sources who are familiar with the plans but
are unauthorized to speak publicly about them.
TORONTO, July 2 (Reuters) – Royal Bank of Canada and
Bank of Montreal were the top two advisers on Canadian
M&A deals in the first half of 2015, a period during which the
overall dollar value of deals surged despite a decline in the
actual number of transactions.
Thomson Reuters data released on Thursday showed $122
billion in merger and acquisition deals in Canada in the first
half, up 35 percent from the year-before period and topped only
by the record first half of 2007. The number of deals dropped 13
TORONTO, July 2 (Reuters) – Royal Bank of Canada was
the top adviser on Canadian equity issues in the first half of
2015 as acquisitions and the energy industry’s need to
strengthen balance sheets fueled record high deal flow,
according to data from Thomson Reuters.
The investment banking units of Bank of Montreal
and Canadian Imperial Bank of Commerce rounded out the
top three by value of deals, the figures showed.
TORONTO, June 30 (Reuters) – CONCACAF, the regional body that oversees soccer in North and Central America, said on Tuesday it has retained restructuring specialist Alvarez & Marsal to assess its operations and help it clean house in the wake of the FIFA bribery scandal.
A number of former CONCACAF officials, including former president Jeffrey Webb and his predecessor, Jack Warner, have been ensnared and indicted in the scandal, which has grabbed headlines across the globe.
TORONTO/NEW YORK (Reuters) – An eyebrow-raising disclosure in the U.S. indictment of FIFA officials is that a representative of a Caribbean bank made it easy for one allegedly illegal transaction to be done by flying to New York to personally collect a check and then returned to deposit it in an account in the Bahamas.
This unusual courier service, which reduced the electronic trail on a $250,000 payment to former FIFA official Chuck Blazer in May 2011, was provided by an unnamed officer of Barbados-based CIBC FirstCaribbean International Bank, the indictment shows. CIBC FirstCaribbean is a subsidiary of Canadian Imperial Bank of Commerce, Canada’s fifth-largest bank.