TORONTO, Aug 30 (Reuters) – Acquisition-hungry Valeant
Pharmaceuticals International (VRX.TO: Quote, Profile, Research, Stock Buzz) stepped into the battle
for Canadian cold and flu medicine maker Afexa Life Sciences
(FXA.TO: Quote, Profile, Research, Stock Buzz) on Tuesday with a friendly C$76 million ($77.6
million) takeover offer that tops a rival bid by 34 percent.
The deal would give Valeant control of Canada’s No. 1
selling cold and flu medicine, Cold-FX, and let the
Mississauga, Ontario-based company pursue its strategy of
making Canada a key growth area.
TORONTO (Reuters) – AuRico Gold (AUQ.TO: Quote, Profile, Research, Stock Buzz), a Mexico-focused gold miner in a drive to reposition itself, said on Monday it would buy Northgate Minerals (NGX.TO: Quote, Profile, Research, Stock Buzz) in an all-stock deal worth C$1.46 billion ($1.5 billion).
The acquisition is the latest in a string of deals involving Canadian gold miners as prices for the metal climb faster than even many of the most bullish forecasts.
TORONTO, Aug 24 (Reuters) – Afexa Life Sciences Inc
(FXA.TO: Quote, Profile, Research, Stock Buzz), maker of Cold-FX, Canada’s most popular
over-the-counter flu medicine, is optimistic it can find a
white knight to block a C$56.7 ($57.3 million) hostile bid from
Paladin Labs (PLB.TO: Quote, Profile, Research, Stock Buzz).
Afexa Chairman Bill White told Reuters in an interview on
Wednesday that the company has held talks with several
interested parties, but he declined to be more specific.
TORONTO, Aug 19 (Reuters) – Afexa Life Sciences Inc
(FXA.TO: Quote, Profile, Research, Stock Buzz), maker of the popular Cold-FX flu medicine, urged
shareholders on Friday to take no action on a hostile takeover
offer from Paladin Labs (PLB.TO: Quote, Profile, Research, Stock Buzz), saying it undervalues the
company at C$56.7 million ($57.3 million).
In an earnings report that trumpeted a bright future for
Cold-FX in Canada and abroad, Afexa said a special committee of
the board would review the offer and would make a
TORONTO (Reuters) – A proposed combination of two Canadian patent licensing companies will make it easier to extract lucrative licensing deals from technology giants, would-be buyer WiLan said on Thursday.
WiLan, which makes money by developing and licensing intellectual property for the communications and consumer electronics markets, has offered C$38 a share for smaller rival Mosaid just as tech majors pay heavily for patents to use as weapons in litigation and cross-licensing.
TORONTO (Reuters) – U.S. chipmaker Microsemi Corp is taking its $550 million takeover bid for Canada’s Zarlink Semiconductor hostile, nearly a month after the Ottawa-based company rejected a friendly proposal.
The C$3.35/share offer to shareholders is the first official approach by Irvine, California-based Microsemi since it first started courting Zarlink in January.
TORONTO, Aug 17 (Reuters) – Labopharm Inc (DDS.TO: Quote, Profile, Research, Stock Buzz), a
Canadian biotech company specializing in controlled-release
drugs, has agreed to be bought by Paladin Labs Inc (PLB.TO: Quote, Profile, Research, Stock Buzz),
ending a months-long search for a suitor.
Paladin said it would pay 28.57 Canadian cents a share in
cash for Labopharm, valuing the company at about C$20 million
($20.4 million), a 68 percent premium over its closing share
price of 17 Canadian cents on Tuesday.
TORONTO, Aug 11 (Reuters) – Profit at Sprott Inc (SII.TO: Quote, Profile, Research),
a Canadian asset manager specializing in resources, slipped 4
percent in the quarter, partly because silver retreated from
record highs, dragging down investments in producers of the
Shares of Sprott initially dropped more than 3 percent on
Thursday after the second-quarter results were announced, but
later regained some of that ground.
TORONTO, Aug 11 (Reuters) – Canada Pension Plan Investment
Board, one of the world’s top private equity players, has
switched back to buying mode amid renewed market turbulence,
after stepping away from frothier markets three months ago.
CPPIB Chief Executive David Denison also told Reuters in an
interview on Thursday he saw continued growth for the global
economy, and said financial systems were fundamentally better
prepared to handle economic shocks than they were in 2008.
TORONTO, Aug 7 (Reuters) – Canada’s IPO market could roar
back to life in the final months of 2011 after a dismal first
half — but only if a fresh bout of global market turbulence
doesn’t overwhelm any revival.
So far this year, Canadian initial public stock offerings
are on track for a 60 percent decline in 2011. But investment
bankers say commodity producers could get the market sailing
again once the summer doldrums are over.