People walk by a Bay Street sign at the financial district in Toronto, October 10, 2008. REUTERS/Mark Blinch© Mark Blinch / Reuters/Reuters
DAILY DEALS
Scotiabank says it has submitted an offer to buy a majority stake in a Chilean bank for $2.9-billion. Scotiabank seeks to acquire Banco Bilbao Vizcaya Argentaria, S.A.'s (BBVA) shares in its Chilean banking operation, BBVA Chile. Story
Canada's two largest newspaper companies have struck a deal to swap a total of 37 community newspapers and four free commuter papers – and shutting many of the newsrooms that once competed in those markets – in an effort to cope with declining advertising revenues and a struggling print media environment. Story Susan Krashinsky-Robertson
Aurora Cannabis Inc.'s all-stock hostile takeover bid of medical marijuana company CanniMed Therapeutics has the backing of a Toronto-based investment manager, two Saskatchewan venture capital funds, and an investment fund also based in the prairie province, according to regulatory filings. Story
Canadian retailer Hudson's Bay Co on Monday said almost two-thirds of its shareholders support a $500-million investment by Rhone Capital, which is being opposed by activist fund Land and Buildings LLC. Story
Trend Micro Inc. has acquired Montréal based Immunio. Financial terms were not disclosed. IMMUNIO is a pioneer in real-time web application security (RASP), providing automatic detection and protection against application security vulnerabilities. Founded in 2013 by Zaid Al Hamami and Mike Milner, IMMUNIO had raised $8.3 million in seed and Series A financing from Hoxton Ventures, White Star Capital, Bloomberg Beta, Real Ventures, BDC Capital. Story Private Capital Journal
SoftBank is preparing to buy shares of Uber at a price that values Uber at only $48 billion (U.S.), a steep 30 percent discount rate for ownership in the company, which was last valued at almost $70 million. That's in line with what Uber investors were expecting; Recode reported this weekend that the price could be as low as $48 billion or as high as $52 billion. Story Recode
Private equity giant Thoma Bravo has agreed today to buy Barracuda Networks in a take-private deal that's valued at $1.6 billion (U.S.). The company was offered $27.55 per share, about 16% above Friday's close. Story TechCrunch
ELSEWHERE IN FINANCIAL SERVICES
Expectations for fourth-quarter earnings among Canada's biggest banks are modest, but even a ho-hum finish would do little to tarnish a very good year for the Big Six. Bank earnings start today (Tuesday). Story James Bradshaw (subscribers)
Invesco Canada Ltd., one of the country's largest mutual-fund providers is keeping with the times in launching a robo-adviser tool that will help wealth-management firms and their advisers bring digital advice to Canadian investors. Story
Sino-Forest Corp. co-founder Allen Chan said he is sorry that the company's shareholders lost billions of dollars, but he "respectfully disagrees" with the Ontario Securities Commission's ruling that his actions led to the forestry company's demise. Story (Alexandra Posadzki, for subscribers)
WHAT WE'RE READING
According to a recent report from broker Cushman & Wakefield, the amount of capital being deployed into commercial real estate throughout North America is down 9 per cent so far this year compared to 2016. Story
A decade after the financial crisis, the federal government is easing up its policing of Wall Street and the banking industry, even without actually repealing broad swaths of regulation. Story New York Times
In late October, Sleeping Giants, the mysterious Twitter group behind a campaign against Breitbart, announced that it had set its sights on a new target: the institutions invested in Renaissance Technologies. Story Institutional Investor
This year has been eventful for Lumira Capital. The Toronto life-sciences investor held a first close for Fund IV, completed the fund's debut deals, tied up investing by prior funds, and took a portfolio star public. Story PE Hub
IN CASE YOU MISSED IT
Namaste Technologies is between a rock and a hard place. The Vancouver-based company, which sells vaporizers used by medical-marijuana patients, hasn't broken any laws. Until recently, it was just another company listed on the Canadian Securities Exchange, minding its own business. Story Rita Trichur (subscribers)