Euan's Feed
Apr 16, 2014

Yamana, Agnico reach C$3.9 billion deal with Osisko to thwart Goldcorp takeover bid

TORONTO (Reuters) – Canada’s Osisko Mining Corp (OSK.TO: Quote, Profile, Research, Stock Buzz) said on Wednesday it has reached a C$3.9 billion ($3.6 billion) deal to sell most of its assets to Yamana Gold Inc (YRI.TO: Quote, Profile, Research, Stock Buzz) and Agnico Eagle Mines Ltd (AEM.TO: Quote, Profile, Research, Stock Buzz) as it battles to thwart a hostile takeover bid from Goldcorp Inc (G.TO: Quote, Profile, Research, Stock Buzz), one of the world’s biggest gold miners.

Osisko said the implied value of the new deal is C$8.15 a share, an 11 percent premium to the implied value of a sweetened offer that was announced by Goldcorp last week.

Apr 16, 2014

Yamana, Agnico reach new deal with Osisko to thwart Goldcorp takeover bid

TORONTO, April 16 (Reuters) – Canada’s Osisko Mining Corp
said on Wednesday it has reached a deal to sell most of
its assets to Yamana Gold Inc and Agnico Eagle Mines
Ltd as it battles to thwart a hostile takeover bid from
Goldcorp Inc, one of the world’s biggest gold miners.

Osisko said the implied value of the new deal is C$8.15 a
share, an 11 percent premium to the implied value of a sweetened
offer that was announced by Goldcorp last week.

Apr 16, 2014

Johnson Controls to buy Air Distribution Technologies for $1.6 billion

TORONTO (Reuters) – Johnson Controls Inc (JCI.N: Quote, Profile, Research, Stock Buzz) said on Wednesday it will acquire Air Distribution Technologies from Canada Pension Plan Investment Board (CPPIB) for $1.6 billion, in a move aimed at expanding its offerings in the ventilation products segment.

Milwaukee, Wisconsin-based Johnson Controls, which makes car interiors and batteries as well as heating, ventilation and cooling systems for buildings, said the acquisition reflects its commitment to invest in the buildings business as a growth platform.

Apr 15, 2014

BlackBerry buys minority stake in healthcare IT firm

TORONTO (Reuters) – BlackBerry Ltd said on Tuesday it bought a minority stake in privately held healthcare IT firm NantHealth, a move that offers a glimpse into the type of niche markets the smartphone maker is targeting as it attempts to engineer a turnaround.

Waterloo, Ontario-based BlackBerry, a pioneer in the smartphone industry, has fallen on hard times as its market share has waned in recent years. As the company attempts to stem losses and remain relevant it is now focused on expanding its services segment that caters to the needs of large clients like banks, law firms and government agencies, among others.

Apr 3, 2014

Scotiabank leads in quarterly Canadian M&A as resources rebound

TORONTO, April 3 (Reuters) – Bank of Nova Scotia
led investment banks in advising on mergers and acquisitions in
Canada and finished second in equity issues in a first quarter
that brought a rebound in overall activity in both categories
after a weaker 2013.

Driven by brisker activity in the energy and mining sectors,
the total value of M&A deals in the quarter rose by 20 percent
to US$35.7 billion from the first quarter of 2013, according to
data released by Thomson Reuters on Thursday.

Apr 2, 2014

Osisko strikes deal with Yamana to stymie Goldcorp bid

TORONTO/VANCOUVER (Reuters) – Osisko Mining Corp (OSK.TO: Quote, Profile, Research, Stock Buzz) said on Wednesday that Yamana Gold Inc (YRI.TO: Quote, Profile, Research, Stock Buzz) would buy a 50 percent stake in its mining and exploration assets for C$930 million ($843 million), a deal that potentially thwarts a hostile bid from Goldcorp Inc (G.TO: Quote, Profile, Research, Stock Buzz).

The deal would give Latin America-focused Yamana its first major asset in Canada and make the Toronto-based miner an equal partner in the Osisko properties.

Apr 2, 2014

Osisko strikes deal with Yamana to foil hostile Goldcorp bid

TORONTO, April 2 (Reuters) – Osisko Mining Corp
said on Wednesday that Yamana Gold Inc would buy a 50
percent stake in its mining and exploration assets for C$930
million ($843 million), a deal that potentially thwarts a
hostile bid from rival Goldcorp Inc.

The deal, which would give Latin America-focused Yamana its
first major asset in Canada, gives the Toronto-based miner an
equal partnership in all Osisko’s mining and exploration assets.

Apr 2, 2014

BlackBerry severs sales ties with T-Mobile US

TORONTO (Reuters) – BlackBerry Ltd said it would not renew a deal allowing T-Mobile US Inc to sell its products, a gamble by the smartphone maker as it struggles to stabilize its business under an aggressive new chief executive officer.

The move comes just six weeks after a public spat between the two companies, as T-Mobile offered its customers the Apple iPhone 5s for free in February and touted the promotion as “great offer for BlackBerry customers.”

Mar 31, 2014

Sherritt files proxy, urges rejection of dissident’s nominees

TORONTO, March 31 (Reuters) – Canadian miner Sherritt
International Corp on Monday urged its shareholders to
back its slate of nominees for the company’s board of directors
over a slate put forward by activist investor George Armoyan.

Sherritt filed its proxy circular on Monday, and in a letter
to investors Chairman Harold Stephen assailed Armoyan as someone
with no experience in Sherritt’s lines of business, and said
Armoyan has a poor track record on corporate governance matters
and no credible new ideas for creating value beyond what
management is already doing.

Mar 31, 2014

BlackBerry revenue plunges 64 percent, shares drop

TORONTO (Reuters) – BlackBerry Ltd reported a smaller-than-expected loss on Friday as new chief executive John Chen slashed costs, but a 64 percent drop in revenue underscored the challenge Chen faces in turning around the struggling smartphone maker.

The Canadian company, which has lost most of the smartphone market to Apple Inc’s iPhone and gadgets powered by Google Inc’s Android operating system, has laid off thousands and agreed to sell most of its real estate.

    • 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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