Pav's Feed
Jan 28, 2011

Brazil’s Batista may need to bid up Ventana

TORONTO, Jan 28 (Reuters) – Brazilian billionaire Eike
Batista – whose ambition it is to become the world’s richest
man – may need to sweeten his hostile bid to buy Ventana Gold
Corp (VEN.TO: Quote, Profile, Research, Stock Buzz), and not just for fear of a rival bidder.

Batista, who last year jumped to 8th place on Forbes list
of the world’s wealthiest, has offered C$12.63 a share for the
80 percent of Vancouver-based Ventana that he does not own,
valuing the company at about C$1.5 billion ($1.5 billion).

Jan 26, 2011

Other parties interested in Ventura, CEO says

TORONTO (Reuters) – A hostile takeover offer valuing Ventana Gold (VEN.TO: Quote, Profile, Research, Stock Buzz) at C$1.5 billion ($1.5 billion) has attracted other prospective bidders for the Canadian-based miner but no firm bids yet, its CEO said on Wednesday.

Brazil’s Eike Batista, through his AUX Canada Acquisition Inc, is offering C$12.63 a share for the 80 percent of Ventana stock he does not already hold.

Jan 25, 2011

Arcelor poised to take control of Baffinland

TORONTO (Reuters) – A majority of Baffinland Iron Mines (BIM.TO: Quote, Profile, Research, Stock Buzz) shares have been tendered to a C$590 million ($596 million) takeover bid by ArcelorMittal (ISPA.AS: Quote, Profile, Research, Stock Buzz), all but clinching the No. 1 global steelmaker’s acquisition of a giant Arctic iron ore deposit.

Luxembourg-based Arcelor said on Tuesday shareholders representing 61 percent of Baffinland shares tendered to the bid, and that it had extended the C$1.50-a-share offer until February 4 so shareholders who have not yet tendered can do so.

Jan 24, 2011

RioCan REIT, Tanger in C$1 bln joint venture

TORONTO, Jan 24 (Reuters) – RioCan Real Estate Investment
Trust (REI_u.TO: Quote, Profile, Research, Stock Buzz) (REI_u.TO: Quote, Profile, Research, Stock Buzz) announced plans on Monday for a C$1
billion ($1 billion) joint venture to develop outlet malls in
Canada with U.S.-based Tanger Factory Outlet Centers (SKT.N: Quote, Profile, Research, Stock Buzz).

The deal comes as U.S. companies, struggling with a weaker
market at home, line up for retail space in Canada, which
suffered less in the global recession. Top U.S. brand names are
also seeking exposure in Canadian cities.

Jan 24, 2011

Baffinland deadline looms after long takeover fight

TORONTO, Jan 24 (Reuters) – Stakeholders in Baffinland Iron
Mines (BIM.TO: Quote, Profile, Research, Stock Buzz), owner of a vast Arctic iron ore deposit, have
until midnight on Monday to tender to a C$590 million ($594
million) takeover offer led by No. 1 steelmaker ArcelorMittal,
ending a months-long standoff.

The C$1.50-a-share offer expires at 11:59 p.m. (0459 GMT on
Tuesday) and is a joint bid from Arcelor (ISPA.AS: Quote, Profile, Research, Stock Buzz) and Nunavut
Iron Ore, a private equity-backed company it joined forces with
on Jan. 14, ending a bidding war for Baffinland’s Mary River
deposit that started in September.

Jan 21, 2011

BMO banker sees return of Canadian mega-mergers

TORONTO (Reuters) – It’s the year of the mega-merger, says the head of Canada’s top M&A advisory group, predicting that 2011 could bring the country’s first C$10 billion deal since the recession ended.

Chief executives, their confidence restored after the financial crisis, and financing more readily available, are again chasing growth in booming commodity markets, said Dan Barclay, who leads Bank of Montreal’s Canada mergers and acquisition team.

Jan 14, 2011

Rivals unite in Baffinland bid but chairman opposes

TORONTO/BRUSSELS (Reuters) – Two rival bidders for Baffinland Iron Mines have united in a C$590 million ($595 million) joint takeover offer, but the iron ore explorer’s chairman said he opposes the deal.

ArcelorMittal, the world’s largest steelmaker, and Nunavut Iron, backed by U.S. private equity, on Friday made a joint C$1.50-a-share offer for 100 percent of Baffinland. The offer marks the end of their four-month battle for control of the company’s huge Arctic iron ore deposit.

Jan 14, 2011

Nunavut Iron chairman is no stranger to deal-making

TORONTO (Reuters) – For Canadian dealmaker Bruce Walter, the takeover battle for Baffinland Iron Mines and its huge Arctic iron ore deposit isn’t exactly unexplored territory.

From Barrick Gold’s Goldstrike mine in Nevada to Sherritt International’s Ambatovy nickel project in Madagascar and Centerra Gold’s Kumtor gold mine in Kyrgyzstan, Walter has helped put together some of the biggest deals involving Canadian miners in the last 30 years.

Jan 14, 2011

Arcelor, Nunavut unite in C$590 mln Baffinland bid

TORONTO/BRUSSELS, Jan 14 (Reuters) – Two rival bidders for
Baffinland Iron Mines (BIM.TO: Quote, Profile, Research, Stock Buzz) have united in a C$590 million
($595 million) joint takeover offer for the iron ore explorer,
ending a four-month fight to control its huge deposit in the
Canadian Arctic.

ArcelorMittal (ISPA.AS: Quote, Profile, Research, Stock Buzz), the world’s largest steelmaker,
and Nunavut Iron, backed by U.S. private equity, on Friday made
a joint C$1.50 a share offer for 100 percent of Baffinland.

Jan 14, 2011

Arcelor, Nunavut in C$590 mln joint Baffinland bid

TORONTO/BRUSSELS, Jan 14 (Reuters) – Two rival bidders for
Baffinland Iron Mines (BIM.TO: Quote, Profile, Research) have joined forces in a C$590
million ($595 million) joint takeover offer for the company,
ending a months-long fight over its huge iron ore deposit in
the Canadian Arctic.

ArcelorMittal (ISPA.AS: Quote, Profile, Research), the world’s largest steelmaker,
and Nunavut Iron, backed by U.S. private equity, on Friday made
a joint C$1.50 a share offer for 100 percent of Baffinland,
with 393.4 million shares outstanding, fully diluted.