TORONTO (Reuters) – The contentious $15.1 billion takeover of Canadian oil and gas company Nexen Inc (NXY.TO: Quote, Profile, Research, Stock Buzz) by Chinese state-owned entity CNOOC Ltd (0883.HK: Quote, Profile, Research, Stock Buzz) closed on Monday, more than seven months after China’s largest-ever foreign takeover was announced.
Nexen, based in Calgary, Alberta, said in a statement on Monday that the deal had closed and its shareholders would receive $27.50 in cash for each Nexen share.
TORONTO, Feb 15 (Reuters) – The Canada Pension Plan
Investment Board, one of the world’s biggest pension funds, said
on Friday investment returns grew in its fiscal third quarter as
global equity markets strengthened.
Returns for the period, ended Dec. 31, received an added
bump from one of the largest energy deals of 2012 – the takeover
of Canadian natural gas producer Progress Energy by Malaysian
state oil company Petronas for C$5.17 billion ($5.16 billion).
TORONTO (Reuters) – KEYreit (KRE_u.TO: Quote, Profile, Research, Stock Buzz), a real estate investment trust that owns small retail properties across Canada, on Friday rejected an unsolicited partial takeover bid from Huntingdon Capital Corp (HNT.TO: Quote, Profile, Research, Stock Buzz), saying the proposal was inadequate and coercive.
Richmond, British Columbia-based Huntingdon, which already owns 5.4 percent of KEY’s issued and outstanding trust units, made its offer in January. It wants to acquire a further 6.6 million, or 45 percent, of KEY’s units for C$7 each in cash.
Feb 12 (Reuters) – The drawn out battle between Agrium Inc
and its largest shareholder Jana Partners looked set
for a bruising proxy battle on Tuesday, a day after the activist
hedge fund rejected Agrium’s call for a truce.
The fertilizer maker and farm products retailer threw down
the gauntlet late on Monday by nominating David Everitt and Mayo
Schmidt as independent board members, passing over five nominees
that Jana has proposed for election to Agrium’s board.
TORONTO (Reuters) – Barely a week after launching an all-new, make-or-break line of smartphones, BlackBerry is already looking at a future in which it is a leader in “mobile computing,” Chief Executive Thorsten Heins said on Tuesday.
Heins said BlackBerry is aiming to reclaim its spot as an innovator in a world where smartphones already have the processing power to replace tablets and laptops.
TORONTO (Reuters) – Barely a week after the launch of an all-new, make-or-break smartphone, BlackBerry is already looking at a future in which it is a leader in “mobile computing,” Chief Executive Thorsten Heins says.
He says BlackBerry’s aim is to reclaim its spot as an innovator in world where smartphones will have the processing power to replace tablets and laptops.
TORONTO (Reuters) – Shares of BlackBerry (BBRY.O: Quote, Profile, Research, Stock Buzz)(BB.TO: Quote, Profile, Research, Stock Buzz) rose more than 12 percent on Monday after Bernstein Research said it was upgrading the stock to “outperform” after last week’s launch of the company’s new line of BlackBerry 10 smartphones.
The brokerage firm, which has not had an “outperform” rating on the stock for more than three years, also lifted its price target to $22 from $12, saying it has grown much more confident about the success of the smartphones, powered by the new BlackBerry 10 operating system.
TORONTO, Feb 4 (Reuters) – Hunter Harrison, brought in to
engineer a turnaround at Canadian Pacific Railway, has
tapped a former protege as the company’s president and chief
CP said on Monday that Keith Creel would join on Tuesday
from Canadian National Railway,, the railroad that
Harrison had previously run.
NEW YORK, Jan 31 (Reuters) – The afterglow of Research In
Motion Ltd’s BlackBerry 10 unveiling faded on Thursday
as a flurry of lukewarm reviews signaled the company’s struggle
to regain momentum in the hyper-competitive smartphone market
was just beginning.
Shares of BlackBerry, RIM’s new corporate name, fell almost
10 percent early on Thursday, after a 12 percent decline the
previous day, as some tech analysts questioned whether the new
BB10 devices the company launched on Wednesday were the
sure-fire hit that BlackBerry needs to get back into the game.
NEW YORK (Reuters) – Research In Motion Ltd on Wednesday unveiled the long-delayed line of smartphones it hopes will put it on the comeback trail, but it disappointed investors by saying U.S. sales of its all-new BlackBerry 10 devices will not start until March, sending its share price tumbling 12 percent.
Chief Executive Thorsten Heins also announced that RIM was abandoning the name it has used since its inception in 1985 to take the name of its signature product, signaling his hopes for a fresh start for the company that pioneered on-your-hip email.