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Apr 8, 2011

Starbucks Canada sees Quebec as final frontier

TORONTO (Reuters) – An eastern expansion drive is brewing at Starbucks Canada.

Colin Moore, Starbucks’ Americas president, said the world’s largest coffee chain is targeting the French-speaking province of Quebec and the Atlantic provinces to the east of it, which together he sees as a huge untapped market.

Apr 7, 2011

Dollarama lures bargain-happy Canadians

TORONTO, April 7 (Reuters) – Dollarama Inc (DOL.TO: Quote, Profile, Research, Stock Buzz),
Canada’s largest operator of dollar stores, said on Thursday it
plans to open 50 new stores within a year as the popularity of
its discount format soars.

Dollarama, which went public in 2009, is growing quickly as
bargain-hunting Canadians who flocked to its stores during the
economic downturn, stayed on after the economy recovered.

Apr 6, 2011

Target eyes C$6 billion in annual Canadian sales

TORONTO (Reuters) – Retail giant Target Corp (TGT.N: Quote, Profile, Research, Stock Buzz) expects to generate at least C$6 billion ($6.25 billion) in annual sales in Canada in as little as six years as it makes its first foray into a foreign market.

Chief financial officer Douglas Scovanner also said on Wednesday the No. 2 U.S. discount chain, which announced its entry into the Canadian market in January, now plans to open about 200 Canadian stores, expanding on earlier estimates.

Apr 6, 2011

Cephalon rejects Valeant’s $5.7 bln bid

NEW YORK/TORONTO, April 5 (Reuters) – Cephalon Inc (CEPH.O: Quote, Profile, Research, Stock Buzz)
on Tuesday rejected an unsolicited, $5.7 billion acquisition
bid by Canada’s Valeant Pharmaceuticals (VRX.TO: Quote, Profile, Research, Stock Buzz)(VRX.N: Quote, Profile, Research, Stock Buzz), and
Valeant sought to replace the U.S. biopharmaceutical company’s
board of directors.

Cephalon said Valeant’s $73-a-share bid, which Valeant
expects to finance entirely with debt, undervalued the company,
as well as “its key assets and its prospects.”

Apr 5, 2011

Valeant seeks to replace Cephalon board; bid rejected

NEW YORK/TORONTO, April 5 (Reuters) – Cephalon Inc (CEPH.O: Quote, Profile, Research, Stock Buzz)
on Tuesday rejected an unsolicited, $5.7 billion acquisition
bid by Canada’s Valeant Pharmaceuticals (VRX.TO: Quote, Profile, Research, Stock Buzz)(VRX.N: Quote, Profile, Research, Stock Buzz), and
Valeant sought to replace the U.S. biopharmaceutical company’s
board of directors.

Cephalon said Valeant’s $73-a-share bid, which Valeant
expects to finance entirely with debt, undervalued the company,
as well as “its key assets and its prospects.”

Apr 5, 2011

Reuters Summit – Bankers see rebound in leveraged deals

TORONTO, April 5 (Reuters) – Expect more debt-backed takeover bids like Valeant Pharmaceuticals’ offer for Cephalon Inc now that credit markets are largely recovered from the financial crisis, top bankers said on Tuesday.

Large leveraged deals, which were wildly popular just before the crisis, will gather steam both globally and in Canada given interest rates still at or near historic lows and increased investors confidence, bankers told the Toronto leg of the Reuters Global Mergers and Acquisitions Summit.

Apr 5, 2011

Bankers see rebound in leveraged deals

TORONTO (Reuters) – Expect more debt-backed takeover bids like Valeant Pharmaceuticals’ (VRX.TO: Quote, Profile, Research, Stock Buzz) offer for Cephalon Inc (CEPH.O: Quote, Profile, Research, Stock Buzz) now that credit markets are largely recovered from the financial crisis, top bankers said on Tuesday.

Large leveraged deals, which were wildly popular just before the crisis, will gather steam both globally and in Canada given interest rates still at or near historic lows and increased investors confidence, bankers told the Toronto leg of the Reuters Global Mergers and Acquisitions Summit.

Mar 31, 2011

Valeant CEO showcases savvy dealmaking style

TORONTO (Reuters) – All it took was three years and 20 deals for Michael Pearson to aim at a $5.7 billion jackpot, and prove a formula devised in his days as a management consultant.

Pearson is leading the bid by Valeant Pharmaceuticals (VRX.TO: Quote, Profile, Research, Stock Buzz) (VRX.N: Quote, Profile, Research, Stock Buzz) to take over U.S. drugmaker Cephalon (CEPH.O: Quote, Profile, Research, Stock Buzz), his biggest bet so far on a theory that the traditional growth model — through heavy research and development spending — in the industry is broken.

Mar 30, 2011

Valeant CEO seeks speedy result on Cephalon bid

TORONTO/NEW YORK, March 30 (Reuters) – Valeant (VRX.TO: Quote, Profile, Research)
Pharmaceuticals (VRX.N: Quote, Profile, Research) may walk from from its $5.7 billion
offer for U.S. drugmaker Cephalon (CEPH.O: Quote, Profile, Research) within a month if it
can’t persuade shareholders to back the deal.

But Chief Executive Michael Pearson also said Valeant might
be willing to pay more for the cash-rich company, the
acquisition of which would expand Valeant’s lineup of drugs
into cancer treatments and other fields, if Cephalon can
persuade him it’s worth it.

Mar 30, 2011

Valeant to be disciplined in Cephalon bid-CEO

TORONTO, March 30 (Reuters) – Valeant Pharmaceuticals
International Inc (VRX.TO: Quote, Profile, Research, Stock Buzz) (VRX.N: Quote, Profile, Research, Stock Buzz) is not interested in a
bidding war for U.S. drugmaker Cephalon Inc (CEPH.O: Quote, Profile, Research, Stock Buzz), and Chief
Executive Michael Pearson said on Wednesday he was willing to
walk away.

But Pearson also said Valeant may consider raising its
offer if Cephalon opens up its books and the deal looks right.