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Oct 16, 2015

TSX ekes out gain in mixed market; down 0.9 pct on week

TORONTO, Oct 16 (Reuters) – Canada’s main stock index rose
slightly on Friday, helped by a bounce back in Valeant
Pharmaceuticals International Inc and gains in
heavyweight financial stocks but weighed down by railways and
energy stocks.

The most influential mover by far was Valeant, which jumped
4.9 percent to C$227.40, rebounding from a sharp fall the
previous day after it said it had been subpoenaed by U.S.
prosecutors over its drug pricing and patient-assistance

Oct 9, 2015

Ontario to raise up to C$1.87 billion in Hydro One IPO

TORONTO (Reuters) – The Canadian province of Ontario expects to raise as much as C$1.87 billion ($1.44 billion) through the sale of a 15 percent stake in its electric utility Hydro One Ltd, according to a regulatory filing on Friday. The government plans to sell up to 89.25 million Hydro One shares in an initial public offering likely to be priced between C$19 and C$21, pegging the overall value of the company between C$11.31 billion and C$12.5 billion.

The Hydro One offering, which comes in the aftermath of a sharp selloff in Canadian public markets over the summer, is set to raise less funds than the province had initially anticipated.

Oct 2, 2015

GE role helps JPMorgan top Canadian M&A advisor rankings

TORONTO, Oct 2 (Reuters) – JPMorgan Chase, the lead
advisor to General Electric Co on the sale of its finance
assets, vaulted to the top of the Canadian M&A league tables
following a string of GE asset sales to Canadian buyers.

Thomson Reuters data released on Friday showed $191 billion
in mergers and acquisitions involving Canadian entities
year-to-date, up 28 percent from about $149 billion from a year
ago. The overall number of deals fell nearly 10 percent.

Oct 2, 2015

RBC leads rise in Canadian equity issues despite choppy markets

TORONTO, Oct 2 (Reuters) – Royal Bank of Canada led
a rise in the value of Canadian equity issues for the first nine
months of 2015, overcoming a slowdown in the third quarter due
to increased choppiness in equity markets.

Equity financings rose to C$36 billion ($27.23 billion) in
the period, compared with C$33.6 million a year ago, according
to Thomson Reuters data released on Friday.

Sep 29, 2015

Canada’s Hootsuite taps Open Text executive Kini as CFO -source

TORONTO (Reuters) – Hootsuite has tapped Open Text Corp’s principal accounting officer Sujeet Kini as its chief financial officer, according to a source familiar with the matter, potentially moving the Canadian tech start-up a step closer toward listing.

Waterloo, Ontario-based Open Text disclosed in a regulatory document last week that Kini is leaving the company effective Oct. 16 and that he has accepted the CFO position at a social media company.

Sep 28, 2015

Canada proxy firm Kingsdale plans U.S. push with or without M&A

TORONTO (Reuters) – Canadian proxy solicitation firm Kingsdale Shareholder Services still plans to expand in the United States after merger and acquisition talks with rivals there failed to produce a deal, its top executive said on Monday.

The Toronto-based firm, majority-owned by MDC Partners Inc (MDCA.O: Quote, Profile, Research, Stock Buzz) (MDZa.TO: Quote, Profile, Research, Stock Buzz), was close to finalizing a deal with one potential target this year but the two sides could not reach an agreement, said Chief Executive Wes Hall, who declined to specify which company it was.

Sep 16, 2015

Glencore in talks on streaming deals on Chile, Peru mines: sources

TORONTO (Reuters) – Glencore (GLEN.L: Quote, Profile, Research, Stock Buzz) is in talks with Franco-Nevada Corp (FNV.TO: Quote, Profile, Research, Stock Buzz), Silver Wheaton Corp (SLW.TO: Quote, Profile, Research, Stock Buzz), Royal Gold Inc (RGLD.O: Quote, Profile, Research, Stock Buzz) and two other companies to sell portions of the future production of three South American copper mines, two sources with knowledge of the talks said.

The so-called streaming deals involve Glencore’s Antamina and Antapaccay copper mines in Peru, and its Collahausi mine in Chile, they said. The sources asked not to be identified as the matter is confidential.

Sep 16, 2015

Canadian software company Lightspeed raises $61 million

TORONTO (Reuters) – Lightspeed, a provider of software for the retail industry, said on Wednesday it had raised $61 million (C$80.7 million), in the largest funding round for a Canadian technology company so far this year.

Pension fund manager Caisse de dépôt et placement du Québec led the fundraising along with Investissement Québec, the investment arm of the province. Further support came from venture capital firms Accel Partners and iNovia Capital.

Sep 15, 2015

CIBC makes executive changes in wholesale banking team

TORONTO, Sept 15 (Reuters) – Canadian Imperial Bank of
Commerce has made two key executive changes within its
wholesale banking business as Canada’s fifth biggest bank
further consolidates under Chief Executive Victor Dodig.

Dodig, who took over as CEO a year ago, has made several
management shuffles in that time as he looks to address CIBC’s
competitive challenges in the domestic market.

Sep 11, 2015

TD looks to expand U.S. presence through acquisitions: CEO

NEW YORK (Reuters) – Toronto Dominion Bank (TD.TO: Quote, Profile, Research, Stock Buzz) is interested in broadening its U.S. market presence through acquisitions and could boost its credit card and wealth management businesses through potential deals, Chief Executive Bharat Masrani said on Friday.

The Canadian bank, which has grown rapidly in the U.S. Northeast, may also bolster its reach in the Southeast, including Florida, by going after suitable targets, he said in an interview.