Skip to main content
streetwise newsletter

Canadian bank headquarters stand on Bay Street in Toronto on Monday August 29, 2011. Bay Street is the centre of Toronto's Financial District and is often used by metonymy to refer to Canada's financial industry Photographer: Brent Lewin/BloombergBrent Lewin/The Globe and Mail

Marijuana merger mania: Emerging industries usually follow a natural business cycle: They blossom, then they consolidate. What's unusual about this round of merger mania in Canada's scorching, but nascent, marijuana sector is the speed at which it's unfolding. Story (Tim Kiladze, for subscribers)

Pot deal of the day: Licensed marijuana producer Aphria Inc. announced an agreement Monday to buy medical cannabis firm Nuuvera Inc. in a cash-and-stock deal that it says values the company at $826-million. Story

IPO watch: Ontario pension giant OMERS is pushing further into the rapidly expanding cryptocurrency business through the creation of an Ethereum-focused public company that is planning to raise $50-million. Story (Sean Silcoff and Jacqueline Nelson)

Job opening: ATB Financial Corp. chief executive officer Dave Mowat is retiring this summer, ending an 11-year run at the helm of Alberta's government-owned bank. Story (James Bradshaw, for subscribers)

DEAL WRAP

Beverage industry: Keurig Green Mountain Inc will buy soda maker Dr Pepper Snapple Group Inc in a deal worth more than US$21-billion, bringing the world's biggest single-serve coffee brand, K-Cup, and beverages such as 7UP, Snapple and Sunkist under one roof. Story

Trying again: A Silicon Valley venture-capital firm is attempting to lead a rescue effort of fallen Vancouver e-commerce firm BuildDirect.com Technologies Inc., three months after it filed for creditor protection. Story (Sean Silcoff, for subscribers)

Not in a rush: Vancouver technology firm Hootsuite Media Inc. has hired a new chief financial officer, replacing the man who was expected to lead the company to an IPO. Story (David Ebner, for subscribers)

More rushed: Polychain Capital, the crypto hedge fund backed by venture firms Sequoia Capital and Andreessen Horowitz, aims to raise about $400 million (US$325 million) in an initial public offering in Canada. Story

U.S. venture deal: Understanding precisely how consumers and users interact with your website and apps is paramount to any company's success. To handle such interactive data, SaaS digital experience insights company ContentSquare announced today that it has raised a US$42 million Series B funding round, led by Canaan, the VC firm that previously invested in Lending Club, Ebates, and Match.com. VentureBeat

Biotech sector: French drug maker Sanofi has agreed to buy Belgian biotech company Ablynx for 3.9 billion euros (US$4.8 billion), beating Novo Nordisk and marking its second big deal this month after buying Bioverativ. Story

Activists: Shareholders of Avon Products Inc on Monday called on the cosmetics maker to explore strategic options, including a sale. Story

WHAT WE'RE READING ELSEWHERE

M&A Market: Canada's market for mergers and acquisitions was highly active in 2017 in terms of volume, but with smaller values. Strategic buyers drove much of the action. And private equity firms found plenty of sell-side opportunities, but continued to be selective when doing new deals. PE Hub

Proxy battles: How eight men inside a Maryland office park decide the fate of the country's greatest companies. Institutional Investor

Skepticism: VMware Inc. plunged after CNBC reported that it's considering acquiring Dell Technologies in a reverse merger, bringing Dell back to public markets in what could be the industry's biggest deal ever. Bloomberg

Busy busy busy: Sanofi Chief Executive Officer Olivier Brandicourt isn't hanging around. Just eight days after announcing the US$11.6 billion takeover of U.S. hemophilia group Bioverativ Inc., he agreed to pay 3.9 billion euros ($4.8 billion) for Ablynx NV, a Belgian biotech that specializes in blood disorders. Bloomberg

The Streetwise newsletter is daily. 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.

Report an editorial error

Report a technical issue

Editorial code of conduct

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 24/05/24 4:00pm EDT.

SymbolName% changeLast
SNY-Q
Sanofi-Aventis S.A. ADR
-0.94%48.54

Interact with The Globe