John's Feed
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.”

Jun 26, 2015

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

TORONTO (Reuters) – Bank of Nova Scotia has warned regional soccer 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.”

Jun 26, 2015

Scotiabank warns soccer’s CONCACAF to clean up its act or funds will be withheld

TORONTO, June 26 (Reuters) – Bank of Nova Scotia has warned regional soccer 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.”

Jun 26, 2015

Crescent Point set to win shareholder vote on Legacy acquisition: source

TORONTO/CALGARY (Reuters) – Crescent Point Energy Inc (CPG.TO: Quote, Profile, Research, Stock Buzz) is poised to prevail in a shareholder vote on its proposed acquisition of energy producer Legacy Oil + Gas Inc (LEG.TO: Quote, Profile, Research, Stock Buzz), according to a source familiar with the matter.

Such a vote will bring an end to uncertainty surrounding the deal since hedge fund and activist shareholder FrontFour Capital Corp said earlier this month that it will vote against the proposed acquisition. The final votes will be counted at Legacy’s annual meeting on June 30 in Calgary.

Jun 19, 2015

Activist fund Livermore calls for change at Canada’s Zargon Oil

TORONTO (Reuters) – U.S. hedge fund Livermore Partners is pushing for change at Canadian energy producer Zargon Oil and Gas Ltd (ZAR.TO: Quote, Profile, Research, Stock Buzz), calling for cost reductions, a dividend cut and an improvement in production.

Northbrook, Illinois-based Livermore could also potentially seek one or two board seats to get better oversight of the company and eventually explore strategic alternatives, including a partnership or the sale of the company, the fund’s top executive said on Friday.

Jun 18, 2015

Cenovus in exclusive talks with Teachers’ fund on land assets -sources

TORONTO/CALGARY, June 18 (Reuters) – Cenovus Energy Inc
is in exclusive talks to sell Canadian oil and gas
royalty lands to the Ontario Teachers’ Pension Plan in a deal
that could fetch C$2.5 billion to C$3 billion ($2.45 billion),
according to four sources familiar with the matter.

The sources, who asked not to be named as they have not been
cleared to discuss the matter publicly, said the discussions
between Calgary-based Cenovus and Ontario Teachers, one of
Canada’s top pension fund managers and investors, are at an
advanced stage.

Jun 17, 2015

Alignvest set to raise C$225 million via IPO on Toronto Exchange

TORONTO, June 17 (Reuters) – Alignvest Acquisition Corp, an
investment company set up primarily to buy an operating asset,
said on Wednesday it is raising almost double the money it set
out to generate via an initial public offering on the Toronto
Stock Exchange.

The Toronto-based company said it plans to sell 22.5 million
units at C$10 a unit and raise C$225 million ($184 million). It
had initially set out to raise C$125 million by selling 12.5
million units at C$10 apiece.