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
The subsidiary, U.S. Steel Canada, said the funding should
allow it to operate until the end of 2015.
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.
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 (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
The long-planned sale of the Niobec mine, located some
200-km north of Quebec City, includes an adjacent rare earth
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.
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.
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.
TORONTO, Sept 26 (Reuters) – BlackBerry Ltd
reported a smaller quarterly loss on Friday and flashed
encouraging signals about its hard-pressed smartphone business
as well as its software and services sales, spurring a 7 percent
jump in its shares.
The Canadian company, a smartphone pioneer pushed to the
margins by Apple Inc’s iPhone and devices running
Google Inc’s Android software, is now focusing more on
software and services than on hardware as it works through a
TORONTO (Reuters) – BlackBerry Ltd (BB.TO: Quote, Profile, Research, Stock Buzz) (BBRY.O: Quote, Profile, Research, Stock Buzz) reported a much smaller-than-expected quarterly loss on Friday and said it was concentrating on growth and investments, even as concerns about weak revenue linger.
The Waterloo, Ontario-based company, which is pivoting to focus more on software and services as part of a drawn-out turnaround, also reported a huge number of conversions onto its heavily promoted new mobile device management platform.
TORONTO (Reuters) – BlackBerry Ltd’s launch of its square-screened Passport device may have grabbed headlines this week, but it was the tech company’s lower-profile roll out of the new Blend feature that appears to be garnering the plaudits.
Even as reviewers and analysts were torn on the prospects of the unconventionally shaped Passport, they were brimming with praise for Blend, which lets users seamlessly bridge messaging and content between a host of devices irrespective of operating systems.