Here are the top reads on deals and financial services over the last 24 hours,
DEALS NEWS: MERGERS, ACQUISITIONS, IPOs and FINANCINGS
Hong Kong Exchanges proposed deal for London Stock Exchange would jeopardize LSE’s offer for Refinitiv: Hong Kong Exchanges and Clearing Ltd. is proposing to buy London Stock Exchange Group PLC for US$37-billion, a deal that would scuttle LSE’s friendly offer to acquire the financial-data provider Refinitiv Holdings Ltd. Story (Jeffrey Jones)
London Stock Exchange – A story of failed mega mergers: Hong Kong Exchanges offer is the latest attempt at an exchange megamerger after multiple failures between LSE and Deutsche Boerse over the past 17 years. Story (Reuters)
Roots second-quarter loss grows as ‘store traffic continues to be a challenge’: Roots Corp. lost nearly $9.7-million in its latest quarter, the clothing retailer said Wednesday as it missed expectations and announced it will fall short of its financial guidance for the year. Story (The Canadian Press)
Aurora Cannabis reports surge in revenue: Aurora Cannabis Inc reported a surge in revenue on Wednesday, as demand got a boost from Canada’s legalization of recreational marijuana use late last year. Story (Reuters)
Wellington-Altus snags former ScotiaMcLeod head: The former head of ScotiaMcLeod Inc. has joined independent brokerage Wellington-Altus Private Wealth Inc. Story (Clare O’Hara)
Cargojet’s CEO cashes out $68-million after stock sets record high: Cargojet Inc. chief executive Ajay Virmani has landed a $68-million payday by selling shares as the company’s stock soars in the wake of a transformational deal with Amazon.com Inc. Story (Tim Kiladze)
SNC shares post six-week high as Jarislowsky boosts stake: SNC-Lavalin Group Inc. shares climbed more than 15 per cent since Monday after a regulatory filing showed Jarislowsky Fraser Ltd. became one of the engineering giant’s top three shareholders. Story (The Canadian Press)
Saudi Aramco hires nine banks for IPO top roles: sources: Saudi Aramco has hired nine banks as joint global co-ordinators to lead its planned initial public offering (IPO), slated to be the world’s largest, two sources familiar with the matter told Reuters on Wednesday. Story (Reuters)
FINANCIAL SERVICES NEWS
Switzerland warns Facebook’s Libra it will face extra scrutiny: Facebook’s Libra cryptocurrency suffered another setback on Wednesday when Switzerland said the proposed payments system could face strict rules that typically apply to banks, on top of tough anti-money laundering laws. Story (Reuters)
London broker wins sexual discrimination lawsuit against BNP Paribas: A female BNP Paribas broker, whose boss repeatedly brushed aside her questions by saying “not now, Stacey,” has won a sexual discrimination and victimisation lawsuit in a London employment tribunal. Story (Reuters)
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