TORONTO, Sept 18 (Reuters) – United States Steel Corp’s
Canadian unit had sought a wide ranging set of relief
measures from the Ontario government before it filed for
creditor protection in Canada earlier this week, according to a
source familiar with the matter.
The source, who was not authorized to publicly discuss the
matter, said the steelmaker had sought environmental liability
waivers, an extension on the deadline to fully fund its pension
plans in Canada and forgiveness of a C$150 million ($137
million) loan granted by the provincial government nearly a
TORONTO (Reuters) – The sale of Wind Mobile to a group of private equity investors will need to be followed by hefty investment and further deals before Canada`s No. 4 wireless provider poses a significant threat to its much larger competitors.
Shares of BCE Inc, Telus Corp, and Rogers Communications Inc all fell slightly on Tuesday following the news, which some view as a first step to creation of a stronger challenger to the three dominant national players.
TORONTO, Sept 15 (Reuters) – Vimpelcom Ltd has
agreed to sell its majority stake in Canadian wireless carrier
Wind Mobile to its current minority owner Globalive for around
C$300 million ($272 million), two sources with knowledge of the
matter said on Monday.
One of the sources said the transaction would be partly
funded by an investor group led by Canadian hedge fund West Face
Capital Inc and include California-based private equity firm
Tennenbaum Capital Partners.
TORONTO/LAS VEGAS, Sept 11 (Reuters) – BlackBerry
has acquired a U.K-based mobile technology start-up whose
software allows users to have multiple phone numbers on the same
device, the Canadian tech firm said on Thursday.
The purchase of Movirtu helps BlackBerry ramp up its
portfolio of services to cater to the needs of its core base of
corporate and government clients. Terms of the transaction were
TORONTO/LAS VEGAS (Reuters) – BlackBerry Ltd said on Thursday it has acquired Movirtu, a provider of virtual identity solutions, as part of its move to continue building out its portfolio of value-added services that cater to the needs of its core base of corporate and government clients.
Waterloo, Ontario-based BlackBerry said Movirtu’s virtual SIM technology allows an individual to have both a personal and business number on a single mobile device, with separate billing for voice, data and messaging usage on each number.
TORONTO, Sept 3 (Reuters) – Manulife Financial Corp
said on Wednesday it has agreed to acquire the Canadian
operations of Standard Life Plc for about C$4 billion
($3.7 billion) in cash, in a deal that significantly expands the
insurer’s presence in Quebec.
The Toronto-based insurer said the transaction builds on an
already successful wealth and asset management partnership with
TORONTO (Reuters) – Burger King’s (BKW.N: Quote, Profile, Research, Stock Buzz) proposed $11.5 billion acquisition of Canada’s Tim Hortons (THI.TO: Quote, Profile, Research, Stock Buzz) may offer big tax benefits to the U.S. fast food chain but the real tax winner is likely to be its controlling shareholder, 3G Capital.
The New York investment firm is not only deferring a capital gains tax hit in the U.S. because of the deal structure, but is also poised to reap a multitude of dividend tax and other benefits by moving Burger King’s domicile to Canada, tax experts on both sides of the border said.
TORONTO/VANCOUVER, Aug 26 (Reuters) – Barrick Gold Corp
is eliminating its corporate development team and more
cuts are in the works as the world’s top gold miner looks to
reduce costs, three sources familiar with the situation said on
The sources, who asked not to be named as they were not
authorized to discuss the matter publicly, said Rick McCreary,
the development team’s head, is leaving the company this week.
TORONTO, Aug 26 (Reuters) – Burger King Worldwide Inc
plans to buy Canadian coffee and doughnut chain Tim
Hortons Inc in a C$12.64 billion ($11.53 billion)
cash-and-stock deal that would create the world’s third-largest
fast-food restaurant group.
With roughly $23 billion in combined annual sales and more
than 18,000 restaurants in 100 countries, the new entity would
have a vast global footprint and huge growth potential, the
companies said in a joint statement on Tuesday.
TORONTO, Aug 25 (Reuters) – Investors in Burger King
Worldwide Inc and Tim Hortons Inc applauded
news of a potential merger between the two fast food chains,
seeing both tax savings and strategic rationale for a
The two companies confirmed late on Sunday that Burger King
is in talks to acquire the Canadian coffee and doughnut chain,
and that the combined entity would be based in Canada.
Shares of Tim Hortons jumped 18.9 percent to
close at $74.72 on the New York Stock Exchange on Monday, while
shares of Burger King, which is majority owned by investment
firm 3G Capital, rose 19.5 percent to $32.40.