) was higher a day after saying it is selling Northwestel Inc. to Sixty North Unity, a consortium of Indigenous communities from the Northwest Territories, Yukon and Nunavut, for around $1-billion.
Earlier on Tuesday, the federal Competition Bureau said BCE must sell nearly 700 advertising displays in Ontario and Quebec as a condition of its $410-million acquisition of outdoor advertising company Outfront Media Inc.’s Canadian operations. “Our simplified and focused plan prioritizes initiatives that enhance our ability to serve growers in our core markets, maintain the low-cost position and reliability of our assets, and improve the quality of our earnings and free cash flow,” said Ken Seitz, Nutrien’s CEO.) saying its move to adopt a poison pill to thwart its acquisition by the bitcoin miner was “shareholder unfriendly” and highlighted the lack of solid corporate governance standards.
The 15-per-cent trigger “is in direct conflict with established legal and governance standards,” Riot said on Wednesday. If the gains hold, the company will add more than US$28-billion to its market valuation of US$340-billion as of Tuesday market close. The shares have so far this year gained 18 per cent.
“The announcement that OpenAI will now be using OCI only adds to Oracle’s credibility as an AI platform and the new relationship with Google also broadens the company’s distribution for its database,” Evercore analyst Kirk Materne wrote in a note. “We suspect there is ample churn off of Oracle software to competing database and ERP software firms due to the eroding switching cost argument amid massive digital transformations,” Morningstar analyst Julie Sharma said.The Montreal bank said Tuesday that it struck a stock-swap deal that values the Edmonton-based Canadian Western Bank at $5-billion.
The deal is subject to approval of two-thirds of the votes cast by Canadian Western shareholders at a special meeting expected to be held in September. National Bank expects the transaction to close at the end of next year. “We are seeing a progressive normalization in comparable store sales, with growth primarily driven by persistent higher than historical demand for core consumables and other everyday essentials,” CEO Neil Rossy said.
Separately, Dollarama said it had acquired an additional 10-per-cent stake in Latin American value-retailer Dollarcity, increasing its stake to 60.1 per cent. National Amusements owns movie theaters in the U.S., U.K. and Latin America. It also holds 77 per cent of Paramount’s class A voting stock, representing the Redstone family’s controlling interest in the company. Two parties are interested in this stake: independent Hollywood producer Steven Paul as well as Seagram heir Edgar Bronfman, who is backed by private equity firm Bain Capital.
“The tariffs have turned out to be lower than many feared and are initially a plan that can still be revised. The measures are a disaster for European car buyers and for German car manufacturers,” said Frank Schwope, automotive industry lecturer at the University of Applied Sciences FHM Hannover.
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