Cogeco bid is a ‘marathon, not a sprint,’ Altice CEO says: The hostile bid for Cogeco by Rogers Communications Inc. and U.S. cable company Altice USA Inc. will be a “marathon, not a sprint,” Altice’s chief executive officer says, but both potential buyers are committed because the deal would offer them such attractive benefits. (Alexandra Posadzki)
Rogers CEO promises a better Quebec to Cogeco skeptics: Joe Natale seems convinced he can overcome deep-seated resistance to a bid for Cogeco Inc. and Cogeco Communications Inc. by promising a better future for Quebec than his Montreal-based rivals. The chief executive at Rogers Communications Inc. all but wrapped himself in the Fleur-de-lis on Wednesday as he made his first public appearance since teaming up with New York-based cable company Altice USA to table a hostile $10.3-billion bid for Cogeco and its subsidiary. (Andrew Willis)
GMP Capital urges shareholders to back its restructuring plans: GMP Capital Inc. is urging shareholders to back its bid to buy wealth manager Richardson GMP Ltd. rather than support its former chief executive officer and a Toronto-based hedge fund in their attempts to block the deal.
Alberta to give First Nations loan guarantee for power plant project: Alberta Premier Jason Kenney’s political push to have Indigenous communities play a bigger role in energy development has its first real-world example. The province announced Wednesday it will provide a loan guarantee for a First Nations investment in a natural gas-fired generating facility it says will someday produce 8 per cent of the province’s average electricity demand, and further reduce the province’s reliance on coal. (Kelly Cryderman)
Ottawa and big banks team to offer funding, better access to capital, for Black entrepreneurs: The federal government and Canada’s biggest banks are partnering to provide a combined $221-million over four years in credit and services for Black entrepreneurs to address systemic barriers to success. The backbone of the Black Entrepreneurship Program will offer better access to capital, with Ottawa committing up to $33.3-million for loans worth between $25,000 and $250,000. (Josh O’Kane, Kristy Kirkup)
Vancouver startup Klue Labs raises $15-million after online fundraising effort: Vancouver business intelligence software seller Klue Labs Inc. has raised US$15-million in venture capital, joining a growing number of companies that have completed financings during the pandemic despite meeting investors only online. (Sean Silcoff)
Tech-stocks in Canada slide along with U.S., rise back up again: Taking their cues from the volatility that has rattled Big Tech of late, Canadian technology stocks promptly followed their U.S. peers over the ledge during the three-day sell-off that started last week. (Tim Shufelt)
LVMH drops $16-billion Tiffany deal, setting stage for legal dispute: French luxury goods giant LVMH SE abandoned its US$16-billion takeover of Tiffany & Co., a deal that has lost its gloss in the wake of the COVID-19 pandemic, setting the stage for a bitter battle as the U.S. jeweller sued to force it through. (Reuters)
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