A general view of the Sun Life Financial building is seen in Toronto May 6, 2015.Fred Thornhill/Reuters
DEAL OF THE DAY: Sun Life in talks to buy Assurant's employee benefits unit
Sun Life Financial Inc. is in talks to buy Assurant Inc.'s employee benefits unit, people with knowledge of the matter said. A deal valuing the unit at as much as $900-million (U.S.) could be announced within two weeks, said the people, who asked not to be identified because the matter is private. A sale hasn't been finalized and the talks could still fall apart, they said. Full story
MERGERS AND ACQUISITIONS
American Hotel adding to railway portfolio
Vancouver-based American Hotel Income Properties REIT LP has agreed to pay about $44.8-million (U.S.) to buy five railway hotels in four states. The portfolio has long-term lodging contracts with an unidentified U.S. railway company that guarantees more than 80 per cent of the available guest rooms. The deal is expected to close within weeks. Full story
Nine West sold to American owner of brand; new subsidiary to run business
Nine West's Canadian shoe stores will remain open after the brand's U.S. owners reached a deal to buy the business from Toronto-based operator Sherson Group, which had licensed the name. New York-based Nine West Holdings said Monday that it has created a new subsidiary to run the Canadian business, which includes the Nine West, Easy Spirit and Anne Klein brands. The terms were not disclosed. Full story
TBWA merges two Canadian agencies
Omnicom's TBWA Worldwide has merged two of its Canadian agencies, TBWAToronto and Juniper Park, to form a new shop called Juniper ParkTBWA. The move comes as the global ad network aims to strengthen its North American presence in key cities including New York, Los Angeles and Toronto. The terms were not disclosed. Full story
Southern buying AGL Resources for $7.93-billion, creating U.S. utility powerhouse
Southern Co. is buying AGL Resources Inc. for approximately $7.93-billion (U.S.), which would create the second-biggest utility company in the U.S. by customer base. The combined business will include 11 regulated electric and natural gas distribution companies, serving approximately nine million customers in nine states. Full story
Monsanto said to raise Syngenta offer to about $47-billion
Monsanto Co. has made an increased takeover offer to Syngenta AG, seeking to draw the Swiss agro-chemical producer to the negotiating table after its earlier approach was rejected, according to people familiar with the matter. The recent offer of about $47-billion (U.S.) values Syngenta at about 470 Swiss francs ($503) a share in cash and stock. Full story
Sycamore to buy department store chain Belk for about $3-billion
Fashion department store operator Belk Inc. said private equity firm Sycamore Partners will buy it in a deal valued at about $3-billion (U.S.), including debt. Sycamore, in its biggest ever deal, will pay $68 in cash for each share of Charlotte, N.C.-based Belk, which operates 297 stores throughout the South.
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INITIAL PUBLIC OFFERINGS
Vision Critical said to weigh unit sale ahead of IPO
Vision Critical Communications Inc. is weighing the sale of its consulting business ahead of a possible initial public offering by the Canadian marketing software firm, according to people familiar with the process. The price of the unit would likely be about $50-million. Full story
PRIVATE EQUITY AND VENTURE CAPITAL
Vancouver VC Vanedge hoping to raise B.C.'s largest fund to finance startups
Vancouver's venture capital community has taken a lot of knocks in recent years: The number of VC firms investing in tech startups has shrunk to nine from 43 since 2002. However, one of the biggest outfits still in operation, Vanedge Capital, is looking to breathe new life into the local financing scene by raising what would be the biggest VC fund in the province. Full story
Heineken eyes control of Indian beer maker
Heineken NV is seeking to raise its stake in India's largest brewer, United Breweries Ltd., to gain full management control as it bets on the country's growing thirst for beer, sources with direct knowledge of the matter said. Dutch brewer Heineken plans to take its existing holding beyond 50 per cent by buying shares from indebted liquor baron Vijay Mallya. Full story
ANALYSIS AND INSIGHT
Junior miners dig into food services, medical marijuana amid metals crash
Many of the world's junior miners are laying down their picks and shovels to start new ventures ranging from egg exporting to medical marijuana farming, as they as try to survive a crash in metals prices by shifting away from exploration. 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.