This Oct. 25, 2011 file photo shows the logo of Swiss pharmaceutical company Novartis AG on one of their buildings in Basel, Switzerland.Georgios Kefalas/The Associated Press
DEAL OF THE DAY: Grafton Fraser acquires Jones New York stores across Canada
Men's clothing retailer Grafton Fraser Inc., which runs Tip Top Tailor, said Wednesday it has acquired 35 Jones New York women's wear stores that had been expected to close – and plans to expand to at least 50 outlets in the next five years. Full story
MERGERS AND ACQUISITIONS
CGI exiting low-margin markets, eyes M&A in cybersecurity
CGI Group Inc., the information systems and management consultancy, said on Wednesday it would target acquisitions in cybersecurity while exiting some markets entirely, as it reported third-quarter profit and revenue that missed estimates. The company's chief executive officer said it has compiled a short list of 85 potential acquisition targets that would help it grow. Full story
Centerra Gold looks to further acquisitions
Fresh from buying a gold property in Ontario, Centerra Gold Inc. is on the hunt for another acquisition. The Toronto-headquartered company has found itself in a somewhat fortunate position during the gold downturn. Centerra hasn't had to sell prized assets to preserve its balance sheet and instead has cash to spend. Full story
Struggling Torstar wagers $200-million on a niche digital company
Torstar Corp. announced on Wednesday it is spending $200-million for a 56-per-cent stake in VerticalScope Inc., a Toronto-based digital media company that operates hobbyist and niche-interest websites on subjects ranging from cars and sports to pets and collectibles. Full story
Chilean family makes surprise bid for Barrick copper mine
One of Chile's wealthiest families has emerged as a surprise bidder for Barrick Gold Corp.'s large copper mine in South America. Empresas Copec, a forestry and energy conglomerate controlled by Roberto Angelini Rossi and his family, has made it through the first two rounds of bidding for Barrick's Zaldivar mine and was expected to submit its third bid this week, sources said. Full story
PRIVATE EQUITY AND VENTURE CAPITAL
Kensington Venture Fund adds more capital
Kensington Capital Partners has announced the third closing of the Kensington Venture Fund, which increased total investor commitments to $237-million.The fund launched last November backed by Ottawa's Venture Capital Action Plan, and has so far completed commitments to seven Canadian venture capital funds and direct investments in four Canadian startups. Press release
Dealer-FX gets backing from the U.S.
U.S. mid-market private equity firm HGGC has made an undisclosed investment in Dealer-FX Group Inc, a software developer for auto dealerships. Dealer-FX, which has a primary office in Toronto, said the partnership with HGGC will help it continue to expand and develop new solutions. Full story
Vistara technology fund reaches $100-million goal
Vistara Capital Partners announced its Vistara Capital Partners Fund I LP has reached its full $100-million fundraising target. Vistara provides growth capital to technology companies generating $10-million to $200-million in revenue in Canada and the western United States. Press release
A new player in pharmaceuticals
Mereo BioPharma Group Ltd, a newly formed biopharmaceutical company, announced that it has successfully raised $119-million (U.S.) from blue-chip institutional investors and acquired a portfolio of three innovative clinical-stage development programs from Novartis Pharmaceuticals. Novartis holds an equity stake in Mereo. Press release
IN CASE YOU MISSED IT
Not in talks with Siemens, Bombardier says
Canadian plane and train maker Bombardier Inc. has denied reports that it is in talks with German engineering group Siemens AG on merging their rail units. The denial follows a Wall Street Journal report that cited unnamed sources as saying that Bombardier and Siemens were in such talks. Full story
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