Deal analysis: Public Sector Pension Investment Board has struck the one of the richest land deals in Canadian history, acquiring Bombardier Inc.’s Downsview Airport property. But it’s not just the dirt that is commanding top dollar. Story (Rachelle Younglai, Jacqueline Nelson and Greg Keenan, for subscribers)
Deal news: Bombardier Inc. has struck a deal to sell its Downsview site in Toronto for about US$635-million to a pension fund, further shoring up its cash reserves as it reshapes its business after a brush with bankruptcy three years ago. Story (Nicolas Van Praet)
Securities regulator: New powers proposed for the Ontario Securities Commission would give Canada’s largest capital markets regulator tools to shut down obvious cases of white collar crime faster than before, while also confronting problems such as document shredding that can hinder investigations. Story (Grant Robertson, for subscribers)
Talks: Medical cannabis grower MedReleaf Corp. confirmed Thursday that it has held talks with Aurora Cannabis Inc. and other rivals “regarding various alternatives.” Story (Christina Pellegrini)
FINANCIAL SERVICES WRAP
Mortgage rates: Bank of Montreal has raised rates on its posted mortgages, joining a number of other Canadian big banks as they respond to rising bond yields. Story (David Berman)
DEAL WRAP
Canadian venture capital: California cloud-computing giant Salesforce.com Inc. will launch a US$100-million Canadian venture fund Thursday, targeting early-stage companies here that work with its leading sales and marketing platform. Story (Josh O’Kane)
U.S. venture capital: Lucidworks, a company that meshes big data with artificial intelligence (AI) to help companies build smart search-based applications, has raised US$50 million in a round of funding led by Top Tier Capital Partners, with participation from Silver Lake’s growth capital fund, Silver Lake Waterman. VentureBeat
IPOs: Chinese smartphone and connected device maker Xiaomi is bringing its blockbuster initial public offering to Hong Kong, where it could raise about $10-billion in the largest listing globally in almost four years. Story
WHAT WE’RE READING ELSEWHERE
Canadian venture capital: Canada’s venture industry is entering a new evolutionary phase as leading firms unveil big, bold plans for scaling brands, taking on new challenges, and filling market gaps. INovia Capital, a 10-year investor in North American tech companies, provides the latest and perhaps most ambitious example of the trend. PE Hub
Hedge funds: The sentiment that emerged at a financial conference held on Thursday at the New York Athletic Club in Manhattan was unusual for a group of short-sellers: optimism. Institutional Investor
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