TORONTO (Reuters) – Valeant Pharmaceuticals International Inc (VRX.TO: Quote, Profile, Research, Stock Buzz) (VRX.N: Quote, Profile, Research, Stock Buzz) said on Monday it has agreed to acquire privately held PreCision Dermatology Inc for $475 million in cash to strengthen its skin products business.
The deal, which is set to close in the first half of 2014, is expected to immediately add to Valeant’s cash earnings per share after closing.
TORONTO (Reuters) – Wind Mobile, one of the smallest players in Canada’s wireless market, said on Thursday it was offering a new low-cost unlimited U.S. roaming plan, a traditionally lucrative niche for its much larger competitors.
Wind, backed by Europe’s Vimpelcom Ltd, said it would offer customers unlimited data, talk and text while traveling in the United States for C$15 ($13.42) a month.
TORONTO, Jan 28 (Reuters) – Detour Gold Corp would
consider using a hedging strategy if the price of gold drops
from current levels, the Canadian gold miner’s interim Chief
Executive Paul Martin said on Tuesday.
The board of directors has given approval for management to
hedge up to 50 percent of the output from its Detour Lake gold
mine in northern Ontario, if circumstances require such action,
said Martin, speaking from the sidelines of the TD Securities
Mining Conference in Toronto.
TORONTO (Reuters) – Shares of BlackBerry Ltd (BBRY.O: Quote, Profile, Research, Stock Buzz) (BB.TO: Quote, Profile, Research, Stock Buzz), which have been on a tear so far this year, rallied again on Wednesday as investors eyed a cash windfall from the technology company’s plans to sell its Canadian real estate assets.
The Waterloo, Ontario-based company said on Tuesday it plans to divest most of the property it owns in Canada to bolster its balance sheet. Analysts believe the move will give the struggling smartphone maker more breathing room, as it attempts to alter strategic direction and turn its faded fortunes around.
TORONTO, Jan 22 (Reuters) – Timmins Gold Corp,
which owns the San Francisco gold mine in Mexico, said on
Wednesday it will sell C$25 million ($22.7 million) in equity to
a syndicate of banks, the latest in a slew of recent share
offerings from Canadian miners.
The Timmins deal, designed to strengthen its balance sheet,
builds on a wave of offerings that may signal a thaw in the
financing environment for miners, which have long been out of
favor with investors.
TORONTO (Reuters) – BlackBerry Ltd said on Tuesday it intends to divest the majority of its real estate holdings in Canada, as it seeks to bolster its balance sheet and turn around its fortunes.
In partnership with commercial real estate services company CBRE, BlackBerry said it intends to strategically divest the majority of its real estate assets via a combination of sale-leaseback and vacant asset sales.
TORONTO (Reuters) – Osisko Mining Corp (OSK.TO: Quote, Profile, Research, Stock Buzz) rejected on Monday an unsolicited C$2.6 billion ($2.37 billion) takeover bid from rival Goldcorp Inc (G.TO: Quote, Profile, Research, Stock Buzz), saying the offer was financially inadequate and not in the best interests of its shareholders.
The rejection, which sets the stage for a possibly bruising takeover battle between the two Canadian gold miners, came as no surprise. In its preliminary response to the bid last week, Osisko said the 15 percent premium being offered by Goldcorp was “very low”.
TORONTO, Jan 15 (Reuters) – Canada’s Desjardins Group said
on Wednesday that it would buy State Farm Canada’s businesses in
property and casualty and life insurance, as well as its
Canadian mutual fund, loan and living benefits companies.
The exact terms of the transaction were not disclosed, but
the businesses were being valued at around C$1.6 billion
(US$1.46 billion) given the size of the cash infusions being
made by the parties involved.
TORONTO, Jan 15 (Reuters) – Osisko Mining Corp said
on Wednesday it was reviewing Goldcorp Inc’s
unsolicited C$2.6 billion ($2.4 billion) takeover proposal, but
considered the 15 percent premium it offered as “very low”.
The Montreal, Quebec-based gold miner said the bid was
opportunistic and it would advise shareholders after its board,
financial and legal advisers evaluated the offer.
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.