John's Feed
Jul 24, 2015

Canadian investment bank Edgecrest puts itself up for sale – sources

TORONTO, July 24 (Reuters) – Canadian mining-focused
investment bank Edgecrest Capital has put itself on the auction
block, hurt by a prolonged downturn in the natural resource
sector that has hit fees and activity, according to two sources
familiar with the situation.

The move comes two years after Toronto-based Edgecrest,
which is led by investment banker David Beatty, opened shop. The
company acquired boutique dealer Stonecap Securities Inc and its
U.S. unit last year and made some hires earlier this year.

Jul 19, 2015

Canadian boutique adviser INFOR expands reach with acquisition

TORONTO, July 19 (Reuters) – Boutique advisory firm INFOR
Financial Group said on Sunday it agreed to buy the Canadian
operations of U.S. underwriting services provider Incapital
Holdings, boosting its presence in the Canadian investment
banking market.

The value of the deal was not disclosed. The acquisition
will make Toronto-based INFOR a registered investment dealer and
full-service underwriter in the Canadian market, allowing it to
provide a broader range of services.

Jul 14, 2015

CI eyes U.S. asset management acquisitions in expansion plan

TORONTO, July 14 (Reuters) – Canadian money manager CI
Financial Corp wants to expand its small presence in
the fiercely competitive U.S. market with acquisitions worth
C$500 million ($392.25 million) to C$1 billion, its top
executive said.

Chief Executive Stephen MacPhail also said that the
Toronto-based firm, which manages assets worth C$109 billion
now, targets C$150 billion in assets under management over the
next three to five years,

Jul 10, 2015

Rogers puts Shopping Channel for sale, attracts U.S. buyers: sources

By John Tilak, Liana B. Baker and Alastair Sharp

(Reuters) – Canada’s Rogers Communications (RCIb.TO: Quote, Profile, Research, Stock Buzz) has put The Shopping Channel up for sale and received interest from foreign buyers for the television asset that may fetch over C$300 million ($237 million), according to three people familiar with the matter.

The move fits into a refreshed strategy at Rogers, which hired a chief executive with a reputation as a turnaround artist in late 2013, as it tries to shake up its corporate culture and stem declines in its wireless and cable divisions, the company’s biggest sources of revenue.

Jul 9, 2015

Canadian software startup Influitive raises $30.5 million

TORONTO (Reuters) – Canadian startup Influitive, a marketing-software provider, has raised $30.5 million in funding as it looks to finance growth and expand into Europe and Asia, its top executive said on Thursday.

Canadian and U.S. technology companies have been benefiting from a recent flood of venture capital-investments with investors rushing to buy stakes in promising startups as early as possible.

Jul 6, 2015

Acquisition-focused companies meet soaring demand on Bay Street

TORONTO, July 6 (Reuters) – A raft of Canadian companies set
up with a mandate to make acquisitions and led by prominent Bay
Street names is taking advantage of buoyant capital markets and
strong demand from institutional investors.

Several other such vehicles are set to flood the Canadian
market this year and are in the process of pitching their cases,
said three banking sources who are familiar with the plans but
are unauthorized to speak publicly about them.

Jul 2, 2015

RBC, BMO grab top spots in Canadian M&A adviser rankings

TORONTO, July 2 (Reuters) – Royal Bank of Canada and
Bank of Montreal were the top two advisers on Canadian
M&A deals in the first half of 2015, a period during which the
overall dollar value of deals surged despite a decline in the
actual number of transactions.

Thomson Reuters data released on Thursday showed $122
billion in merger and acquisition deals in Canada in the first
half, up 35 percent from the year-before period and topped only
by the record first half of 2007. The number of deals dropped 13
percent, however.

Jul 2, 2015

RBC top adviser on Canadian equity issues in blowout first half

TORONTO, July 2 (Reuters) – Royal Bank of Canada was
the top adviser on Canadian equity issues in the first half of
2015 as acquisitions and the energy industry’s need to
strengthen balance sheets fueled record high deal flow,
according to data from Thomson Reuters.

The investment banking units of Bank of Montreal
and Canadian Imperial Bank of Commerce rounded out the
top three by value of deals, the figures showed.

Jun 29, 2015

CIBC adviser pushes Extendicare for C$100 mln special dividend

TORONTO, June 29 (Reuters) – A CIBC Wood Gundy investment
adviser is pushing Extendicare Inc, a Canadian operator
of senior care centers, to pay a special dividend of at least
C$100 million ($80.70 million) and make other changes following
the sale of its U.S. business.

Markham, Ontario-based Extendicare has been narrowing its
geographic focus to long-term senior care centers in Canada. It
announced a deal in November to sell its U.S. business for $870
million.

Jun 26, 2015

Exclusive – Scotiabank warns football’s CONCACAF to clean up its act or funds will be withheld

TORONTO (Reuters) – Bank of Nova Scotia has warned regional football body CONCACAF, which is deeply enmeshed in the FIFA bribery scandal, that it will withhold funds from a major sponsorship deal unless the confederation cleans up its act, according to a source familiar with the bank’s position.

    “The bank is deeply concerned,” said the source, speaking on condition of anonymity due to the sensitivity of the matter. “It does not want to be associated with scandals like this at all.”