TORONTO Some of the most active companies listed on the Toronto Stock Exchange on Monday:
Toronto Stock Exchange (19,026.79, up 36.47 points.)
Toronto-Dominion Bank (TSX: TD). Finances. Increase of $ 1.01, or 1.22%, to $ 83.47 on 13.3 million shares.
TC Energy Corp. (TSX: TRP). Energy. Up 14 cents, or 0.24 percent, to $ 58.85 on 11.1 million shares.
Suncor Energy Inc. (TSX: SU). Energy. Down 55 cents, or 2.04 percent, to $ 26.47 on 7.9 million shares.
Canadian Natural Resources (TSX: CNQ). Down $ 1.01, or 2.55%, to $ 38.61 on 7.6 million shares.
Bombardier Inc. (TSX: BBD.B). Industrialists. Unchanged at 97 cents on 7.2 million shares.
Royal Bank of Canada Financial Services (TSX: RY). Up 50 cents, or 0.43%, to $ 116.50 on 6.4 million shares.
Companies in the news:
Inter Pipeline Ltd. (TSX: IPL) Down 1 cent, or 0.06 percent, to $ 18.08. An Alberta government grant that more than doubles its previous commitment to a petrochemical plant being built by Inter Pipeline puts pressure on Brookfield Infrastructure Partners LP to increase its hostile takeover bid, according to a analyst. On Monday, Inter Pipeline announced that it will receive $ 408 million in cash grants for its Heartland petrochemical complex as part of an incentive package from the current United Conservative Party government, but will have to forgo $ 200 million in Alberta royalty credits from the previous NDP government. The news is a “significant positive” for Inter, said analyst Ian Gillies of Stifel FirstEnergy in a report. Brookfield is offering $ 16.50 per share in cash or 0.206 of an exchangeable Class A share of Brookfield Infrastructure Corp., with a maximum available cash of $ 4.9 billion, for Inter Pipeline. Offer expires June 7. Inter Pipeline continues to push back the offer from Brookfield, which values the Calgary-based company at $ 7.1 billion, saying it fails to recognize the value of the business and the potential earning potential of the Heartland Project. The $ 4 billion integrated propane dehydrogenation and polypropylene production facility under construction northeast of Edmonton will be the first recipient of the subsidy program announced in October, Inter Pipeline said in a press release. The same project, designed to turn Alberta’s abundant propane into plastic beads for export to manufacturers, received $ 200 million in royalty credits in 2016 as part of the Neo Government Incentive Program. -previous democrat.
Whitecap Resources (TSX: WCP) Down 16 cents, or 2.8%, to $ 5.59. Fast-growing Whitecap Resources says it has entered into a $ 300 million cash and stock deal to buy private rival Kicking Horse Oil & Gas Ltd., an indirect subsidiary of Quantum Energy Partners. The Calgary-based company said it would issue 34.5 million Whitecap common shares and pay $ 56 million in cash, while assuming approximately $ 54 million in net debt, as part of the agreement which should be concluded at the end of May. Kicking Horse currently produces around 8,000 barrels of oil equivalent per day (32% oil and liquids), but Whitecap says it plans to increase and maintain production at around 18,500 boe / d over the 12 to Next 15 months by drilling eight to 10 wells. per year on the land acquired. He says he plans to spend $ 75 million this year to complete four wells and drill six more on Kicking Horse lands. Whitecap recently raised its production forecast for 2021 to around 102,500 boe / d with a capital budget of around $ 290 million. He now predicts that production in 2021 will average 108,000 boe / d (76% liquids) with an investment budget of around $ 365 million. Whitecap completed its acquisitions of producers NAL Resources Ltd. and TORC Oil & Gas Ltd. in exchange for shares in January and February.
Transat AT (TSX: TRZ) Down 80 cents, or 14.6%, to $ 4.69. Transat shares fell 22.6% on the first day of trading after Air Canada ended its takeover of the Montreal-based tour operator due to Europe’s reluctance to approve the deal. Air Canada shares closed up 65 cents or 2.5% at $ 27.10 on the Toronto Stock Exchange. Canada’s largest airline announced on Good Friday that its $ 190 million purchase of Transat was dead. As Air Canada needed to make changes to get the required approvals from the European Commission, Walter Spracklin of RBC Dominion Securities said he didn’t believe it was in the airline’s best interests to come up with a “package. unprofitable solutions that could compromise its future ability to compete internationally. He added that the termination fee of $ 12.5 million was small, representing less than 1% of its estimated $ 3.8 billion consumption for Air Canada in 2021. In addition, Air Canada waived its rights to another $ 10 million transaction fee over the next 12 months. Benoit Poirier, of Desjardins Capital Markets, said Transat will now consider alternatives, including the previous offer of $ 5 per share from Pierre Karl Peladeau and Transat’s stand-alone business plan. “WestJet (owned by Onex) could be another suitable competitor given that the operations of the two companies are complementary,” he wrote. WestJet Airlines said it was not interested in buying its rival. Poirier expects Transat to act quickly to position itself for the eventual recovery of the airline industry. It must first secure long-term funding.
Aphria Inc. (TSX: APHA) Up four cents, or 0.18 percent, to $ 22.79. Two independent voting advisory firms recommend that Aphria Inc. shareholders vote in favor of the cannabis company’s merger with Tilray Inc. Institutional Shareholder Services Inc. and Glass Lewis and Co., LLC said Monday they supported the deal announced in December. The agreement would allow Aphria of Leamington, Ontario to receive 0.8381 shares of Tilray of Nanaimo, British Columbia for each common share of Aphria. The deal looks “healthy” as it will provide $ 100 million in pre-tax cost synergies, ISS said. He was pleased that the merger will create the world’s largest cannabis business based on pro forma revenues and still leave the combined company with room for growth in Canada, the United States and Europe. Meanwhile, Glass Lewis has performed an independent review of the transaction and believes the transaction was structured in a fair and reasonable manner and is favorable to Aphria shareholders. Aphria will hold a special meeting of shareholders on the transaction next Wednesday, after the proxy voting deadline on Monday.
Great Canadian Gaming Corp. (TSX: GC) Up 49 cents, or 1.13 percent, to $ 43.96. The proposed acquisition by Great Canadian Gaming by a fund affiliated with Apollo Global Management Inc. has moved closer to finalization following approval from Investment Canada. The US buyer has received approval under the Investment Canada Act for the takeover bid of $ 45 per share of the investment fund. This follows December approvals from the BC Supreme Court and title holders, as well as clearance under the Competition Act. Certain other closing conditions remain, with the transaction scheduled to close in the second quarter of 2021. Only three of the Company’s 26 casinos remain open after the Ontario operations of Elements Casino Grand River and Shorelines Casino Belleville were suspended on April 2 thereafter. government mandates to fight the spread of COVID-19. Two casinos in Nova Scotia and one in New Brunswick remain open with restrictions. About 79% of shareholders voted in favor of the deal on December 23 after the investment fund softened its previous bid by more than 15%.
This report by The Canadian Press was first published on April 5, 2021.
The Canadian Press