Skip to main content

Duncan HoodFred Lum/The Globe and Mail

DEAL OF THE DAY: Emera to buy Florida utility Teco Energy for $6.5-billion

Halifax power company Emera Inc. has agreed to buy Teco Energy Inc., owner of the electric utility in Tampa, Fla., for $6.5-billion (U.S.) on Friday. Under the terms of the all-cash agreement, Teco Energy shareholders will receive $27.55 a common share, a 48-per-cent premium based on Teco's July 15 closing stock price and 25 per cent above its 52-week high, the companies said in a statement. The deal will also assume about $3.9-billion in debt, the statement shows, bringing the total deal to $10.4-billion. Full story

MERGERS AND ACQUISITIONS

BlackBerry makes largest acquisition with deal for rival Good Technology

BlackBerry Inc. announced its largest acquisition in company history Friday morning, a $425-million cash deal to buy rival Good Technology of Sunnyvale, Calif. The next closest deal was the 2010 pact to buy QNX for $200-million, the connected car platform that then became the core of the BB10 operating system. Full story

Chinese company Bohai to buy Avolon in $7.6-billion deal

Bohai Leasing of China plans to buy the Irish aircraft leasing firm Avolon in a deal with worth $7.6-billion (U.S.), the companies said. According to the deal, announced late Thursday, Bohai, which is owned by the shipping conglomerate HNA Group, will pay Avolon $31 a share in cash. Full story

Competition Bureau approves sale of Archambault Group's retail operations to Renaud-Bray

The Competition Bureau has approved the sale of Archambault Group's retail operations to Renaud-Bray. The sale, announced on May 19, 2015, includes the 14 Archambault stores, the archambault.ca site, and the English-language Paragraphe Bookstore. The sale will close in the coming weeks. Press release

Tweed Marijuana to buy MedCannAccess

Toronto's Tweed Marijuana Inc. has agreed to buy MedCannAccess in an all-stock deal that will allow the medical marijuana producer to connect with its clients face to face via three community access centres in Ontario. Tweed will also acquire from MedCannAccess a 33-per-cent stake in CannScience Innovations Inc., a health science research company based out of the MaRS Centre in Toronto that is working with marijuana extracts to provide precise, standardized doses of medicinal cannabis. Full story

INITIAL PUBLIC OFFERINGS

Avingstone files a $110-million IPO

Avingstone Acquisition Corp. has filed a preliminary prospectus for an initial public offering of $110-million in class A restricted voting units. The company is a newly organized special purpose acquisition corporation uniquely focusing on hospitality and related real estate opportunities in the Americas and Europe. Press release

PRIVATE EQUITY AND VENTURE CAPITAL

Resource Capital Fund acquires shares of Happy Creek Minerals

Denver-based Resource Capital Fund VI LP has purchased 10 million common shares of Vancouver-based Happy Creek Minerals Ltd. and 5,000,000 warrants in connection with a non-brokered private placement by Happy Creek. The shares were acquired at a price of 11 cents a unit, for aggregate gross proceeds paid to Happy Creek of $1.1-million. Press release

ANALYSIS AND INSIGHT

RBC once again gets lead role in Canadian tech IPO south of the border

The two most hotly anticipated Canadian tech initial public offerings of the year have several things in common: They are both fast-growing cloud-based subscription software companies, they have both chosen to list their shares dually in Canada and the U.S. and they have both chosen RBC Dominion Securities as a joint lead book runner. Full story

Williams Cos. wooed by two suitors with two very different ambitions

The lure of Tulsa-based Williams Cos. as a takeover target has drawn two very interested pipeline suitors, for two very different reasons. Dallas-based Energy Transfer Equity LP sees Williams' natural gas conduits in the U.S. East, especially one to New York City, expanding its operations into demand-hungry areas. For Spectra Energy Corp. of Houston, also said to be in talks to buy Williams, the attraction may be the possibility of a tax writeoff and the chance to bring more Canadian gas into the western U.S. Full story

Know of any coming deals we should cover? Have suggestions for making the Daily Deal Roundup more useful? E-mail us at deals@globeandmail.com.

Report an error

Editorial code of conduct

Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 18/03/24 4:00pm EDT.

SymbolName% changeLast
BB-N
Blackberry Ltd
-7.02%2.65
BB-T
Blackberry Ltd
-6.79%3.57
EMA-T
Emera Incorporated
-0.23%47.59
HPY-X
Happy Creek Minerals Ltd
0%0.04
WMB-N
Williams Companies
+0.59%37.22

Interact with The Globe