Skip to main content
streetwise newsletter

Here are the top reads on deals and financial services over the last 24 hours,

Apollo faces growing shareholder opposition to its $2.1-billion bid for Great Canadian Gaming: Apollo Global Management Inc.’s proposed $2.1-billion takeover of Great Canadian Gaming Corp. is facing more opposition from shareholders who complain that the price is too low given the company’s control over casinos in the Greater Toronto Area. (Jeffrey Jones)

Cirque du Soleil hopes to restart live shows next spring after emerging from bankruptcy: The famed circus troupe confirmed Tuesday that the sale to Catalyst Capital and a group of roughly 15 other senior creditors is complete and that it has emerged from bankruptcy protection. Daniel Lamarre will continue to steer the company as president and chief executive officer under a revamped board of directors while Cirque’s headquarters will remain in Montreal. (Nicolas Van Praet)

Investment regulator accuses Gary Ng of fraud: The former owner of Vancouver-based investment bank PI Financial Corp. is facing accusations of fraud after allegedly falsifying documents and creating fake brokerage accounts to borrow approximately $172-million, part of which he used to purchase PI Financial. (Mark Rendell)

Telesat to go public as it pursues its low earth orbit satellite program: Ottawa-based Telesat Canada is going public on the Nasdaq Stock Exchange as it looks to raise funds for a multibillion-dollar project to beam high-speed internet to remote areas from a constellation of 300 low-Earth orbit satellites. (Alexandra Posadzki)

Canada’s banking regulator cautions against lifting ban on banks raising dividends too soon: Since mid-March, the Office of the Superintendent of Financial Institutions has told the country’s banks not to raise dividend payments or to buy back shares. The temporary measure compels banks to preserve capital as a cushion against the possibility of further shocks to the economy or the financial system. (James Bradshaw)

The Streetwise newsletter is Monday to Friday. If you’re reading this on the web, or if someone forwarded this e-mail to you, you can sign up for Streetwise and all Globe newsletters on our signup page.

Your Globe

Build your personal news feed

Follow topics related to this article:

Check Following for new articles