Canadian oil transportation company Gibson Energy Inc said it had rejected a takeover offer from a foreign buyer, calling it inadequate, Reuters reported. The Calgary-based company said it would proceed with a plan to divest its industrial propane business, and that it was not seeking offers to sell itself. The Financial Post reported earlier this week that Gibson rejected a $2.8 billion acquisition offer this month from a Singapore-based private equity firm.
1 min read · 11 August 2016
The Canada Pension Plan Investment Board, the nation's biggest pubic retirement fund, said it delivered gross investment returns of 1.5 percent in the latest quarter, pegged back by market volatility, Reuters reported. The CPPIB, which manages Canada's national pension fund and invests on behalf of 19 million Canadians, said that it ended the first quarter to June 30 with net assets of $287.3 billion, compared with $278.9 billion three months earlier.
1 min read · 11 August 2016
Bahrain-based Investcorp is aiming to make one to two new investments in the next year in each of its regions of the United States, Europe and the Gulf, Co-Chief Executive Rishi Kapoor said on Thursday, Reuters News reported.
2 min read · 11 August 2016
Buyout firm Clayton, Dubilier & Rice LLC is in advanced talks to acquire Drive DeVilbiss, one of the largest U.S. wheelchair manufacturers, for about $750 million, including the assumption of debt, sources told Reuters.
2 min read · 11 August 2016
Carlyle Group LP and Brazilian investor Guilherme Paulus raised a combined 1.230 billion reais ($394 million) from the partial sale of their stakes in Brazilian travel agency CVC Brasil Operadora SA (CVCB3.SA) , a sign investors are slowly returning to Latin America's largest equity market, Reuters News reported.
2 min read · 11 August 2016
Bill Maris, the chief executive and founder of Alphabet Inc's venture arm GV, is leaving the company, Recode reported, citing sources. Maris, who leaves on Aug. 12, will be replaced by GV Managing Partner David Krane.
1 min read · 11 August 2016
Bell Canada, Canada's largest telecommunications company, announced on Tuesday a public offering of $1.5 billion of medium term notes debentures in two series, Reuters reported. The net proceeds of the offering are to be used in part to fund parent company BCE Inc's acquisition of data centre operator Q9 Networks Inc from Ontario Teachers’ Pension Plan, Providence Equity Partners and Madison Dearborn Partners. The $675 million deal was announced this week.
2 min read · 10 August 2016
Canada's Entertainment One, the owner of children's TV character Peppa Pig, has rejected a 1 billion-pound (US$1.3 billion) takeover offer from British broadcaster ITV (ITV.L), saying it undervalued the production and distribution company, Reuters reported. The Toronto-based company says its rights alone were independently valued at over US$1 billion last year. In late 2015, Canada Pension Plan Investment Board bought a minority stake in Entertainment One from British private equity firm Marwyn Investment Management for $290 million. The pension fund remains the company's largest shareholder.
3 min read · 10 August 2016
U.S. Steel Canada Inc has rejected a buyout offer from Ontario Steel Investments, a group that includes shareholders of Essar Global, saying it was not considering further proposals by Essar, which had been eliminated from the sale process, Reuters reported. U.S. Steel Canada said Essar was rejected as a potential buyer of the business earlier this year following discussions with stakeholders including the Ontario government. It cited a failure by Essar, the Indian energy and resources conglomerate, to provide evidence of its financial ability to own and operate the company and an inability to gain the support of all stakeholders.
2 min read · 10 August 2016
Online used-car startup Carvana, known for delivering vehicles through vending machines, said on Wednesday it closed a $160 million Series C funding round that brought the total raised to nearly half a billion dollars, Reuters News reported.
2 min read · 10 August 2016
