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Duncan HoodFred Lum/The Globe and Mail

DEAL OF THE DAY: SunOpta to buy private frozen fruit supplier for about $450-million

Canadian organic foods supplier SunOpta Inc said it would buy organic frozen fruit supplier Sunrise Holdings Delaware Inc for about $450-million in a move to strengthen its packaged products business. SunOpta, which also sells agricultural produce and food ingredients, said it was buying Sunrise from a group of investors led by private equity firm Paine & Partners LLC. Full story

MERGERS AND ACQUISITIONS

RioCan puts its U.S. operations on the block

RioCan Real Estate Investment Trust is looking at "strategic alternatives" for its U.S. operations, which is often code for considering selling a business. The move, which involves RioCan hiring Morgan Stanley and RBC Dominion Securities Inc. as advisers, comes as a surprise at a time when the U.S. economy is stronger than that in Canada. Full story

Enbridge eyeing M&A in natural gas, power generation

Enbridge Inc, Canada's largest pipeline operator, is considering natural gas and power generation acquisitions to help boost the diversity of its asset base, the company's CEO said on Friday. Full story

BSM Technologies and Webtech Wireless launch $85-million merger

BSM Technologies Inc., an Etobicoke, Ont., producer of fleet management and diagnostics systems, is merging with Burnaby, B.C.-based Webtech Wireless Inc., a provider of GPS fleet management solutions. The transaction is structured as a merger of equals with a combined transaction equity value of approximately $85-million. Press release

UPS to Buy Coyote Logistics for $1.8-billion

United Parcel Service said on Friday that it would buy Coyote Logistics, a smaller transportation and logistics provider, for $1.8-billion (U.S.) in cash. The deal is intended to help bolster UPS's presence in the freight brokerage business, which is expected to help the delivery company become more efficient in using its fleet of familiar brown trucks. Full story

Yahoo to Acquire Startup Polyvore in Shopping-Advertising Push

Yahoo! Inc. is buying shopping-service Polyvore Inc., seeking to improve its online fashion content and boost shopping-related advertising. Polyvore lets users put together themed collections of items, like those seen in fashion magazines. Polyvore will add more than 350 retailers to Yahoo's advertising platform, the companies said. Full story

INITIAL PUBLIC OFFERINGS

Volatile markets force exactEarth to postpone IPO

Despite the string of successful Canadian initial public offerings this year, exactEarth Ltd. announced Friday that it is postponing its own. ExactEarth, a subsidiary of Cambridge, Ont.'s Com Dev International Ltd., hoped to raise $80-million and list on the Toronto Stock Exchange. However, the company decided to pull its offering because of "challenging conditions in the capital markets." Full story

Gibraltar Growth Corporation Files Preliminary Prospectus for Initial Public Offering

Gibraltar Growth Corporation, a newly formed special purpose acquisition corporation, or SPAC, has filed a preliminary prospectus for an initial public offering valued at $100-million. Gibraltar Opportunity is the sponsor of the Corporation and a wholly-owned subsidiary of Gibraltar & Company, Inc., a Toronto-based private investment management company. The corporation's team includes well known business figures such as Joe Mimran, former creative director of Joe Fresh, John Cassaday, former CEO of Corus and Jordan Banks, managing director of Facebook Canada. Press release

PRIVATE EQUITY AND VENTURE CAPITAL

FusionPipe Announces 100 per cent Oversubscription of Its Pre Series A Seed Round

FusionPipe Software Solutions Inc., a Vancouver-based authentication and data security provider, has successfully closed it's Pre Series A Seed Round with a 100 per cent equity investment oversubscription. Press release

Genesys Capital to earn up to 15 times its investment on sale of Naurex

Life sciences venture firm Genesys Capital, which has recently tied up a number of lucrative exits, will chalk up another with the proposed sale of a U.S. antidepressant drug maker. This week, Allergan said it would spend $560-million (U.S.) upfront to acquire Naurex, a developer of innovative therapies that provide fast relief from the symptoms of depression. With Naurex's sale, Genesys will see its fifth portfolio realization in roughly a year-and-a-half. It may also see its best investment multiple to date. Full story

Uber valued at about $51-billion after latest funding round

Uber Technologies Inc. has closed a new round of funding that values the online taxi-hailing company at nearly $51-billion (U.S.), the Wall Street Journal reported, citing people familiar with the matter. Uber raised close to $1-billion in the round, bringing its total funding to more than $5-billion. Investors in the latest round include Microsoft Corp. and the Indian media conglomerate Bennett Coleman & Co.'s Times Internet, the report said. Full story

ANALYSIS AND INSIGHT

More pirates, fewer bankers: Steve Blank's prescription for scale-up funding in Canada

Steve Blank–the serial entrepreneur, author, academic and so-called Godfather of Silicon Valley–will headline the Waterloo Innovation Summit this September and take a deep dive into the Waterloo Region startup ecosystem. In a phone interview with Communitech News, Blank shared some pointed observations about Canada's investment landscape, and told us why he's willing to get on a plane and check out the Waterloo Region ecosystem in person. Full story

Canadian companies looking for mergers and acquisitions outside 'stagnant' domestic economy

With the domestic economy stuck in neutral, most of the money spent on acquisitions by Canadian companies went outside the country in the last quarter, according to a report released by Crosbie & Company Thursday. The report says the resource sector contributed to 56 per cent of the overall decline in activity due to low commodity prices, with the energy sector alone dropping by 45 per cent. Full story

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

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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 3:49pm EDT.

SymbolName% changeLast
ENB-N
Enbridge Inc
0%35.52
ENB-T
Enbridge Inc
+0.06%48.09
MS-N
Morgan Stanley
-0.48%87.96
MSFT-Q
Microsoft Corp
+0.22%417.32
NB-T
Niocorp Developments Ltd
-5.03%3.4
S-N
Sentinelone Inc Cl A
+4.84%23.16
SOY-T
Sunopta Inc
-1.06%9.31
STKL-Q
Sunopta Inc
-0.58%6.89
UPS-N
United Parcel Service
-1.1%151.69
Y-T
Yellow Pages Ltd
0%10

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