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Globe Columnists
Tuesday, June 18




  Andrew Willis
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GMP sells capital markets arm to U.S.-based Stifel for $70-million space
Independent investment bank to focus on wealth management as financial sector consolidates
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By ANDREW WILLIS, CLARE O'HARA
Tuesday, June 18, 2019 – Page B1
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-- GMP Capital Inc. is exiting the capital markets business, selling its investment banking arm to U.S. brokerage house Stifel Financial Corp. for approximately $70-million in a dramatic shift for what was once one of Canada's most successful independent investment dealers.  FULL STORY arrow
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Stifel in talks to buy GMP Capital space
St. Louis-based company looks to expand into Canada with acquisition of independent investment bank, sources say
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By ANDREW WILLIS, JEFFREY JONES, NIALL MCGEE
Monday, June 17, 2019 – Page B1
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-- Toronto's GMP Capital Inc. is in talks to be acquired by Stifel Financial Corp., according to sources in the financial sector, in a deal that would see a U.S. company swallow one of the last sizable independent investment banks in Canada.  FULL STORY arrow
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Raptors' owners score big as NBA title adds millions in value to team space
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By ANDREW WILLIS
Saturday, June 15, 2019 – Page B1
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-- When the Ontario Teachers' Pension Plan owned a majority stake in the NBA's Toronto Raptors and parent Maple Leaf Sports and Entertainment Ltd., fund executives bristled at those who accused them of milking the franchise for money, rather than trying to win.  FULL STORY arrow
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For market and Teachers, Baker's property deals are no longer enough space
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By ANDREW WILLIS
Tuesday, June 11, 2019 – Page B1
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-- Richard Baker has shown he sees value in real estate that eludes the rest of us.As the 39th governor of the venerable Hudson's Bay Co., Mr.Baker has tried to find new ways to make a buck at the country's oldest company, which was founded in 1670.  FULL STORY arrow
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Activist investors dig into mining companies for the long haul space
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By ANDREW WILLIS
Monday, June 10, 2019 – Page B1
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-- Activist investors shook up Canada's clubby gold mining industry over the past two years by targeting boards at a dozen companies and winning an impressive number of battles. More campaigns are in the works, and even the largest mining companies may be vulnerable.  FULL STORY arrow
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Ford's desire to get beer into corner stores conflicts with his 'Open for Business' agenda space
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By ANDREW WILLIS
Thursday, June 6, 2019 – Page B5
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-- Ontario Premier Doug Ford's obsession with getting six packs into corner stores is now officially killing his Progressive Conservative government's ''Open for Business'' agenda.The populist Premier picked a fight with the world's biggest brewers last week by threatening to tear up a deal that grants the Beer Store, a 445-outlet chain primarily owned by the foreign brewing giants behind Labatt, Molson and Sleeman, a near-monopoly on retail beer sales.  FULL STORY arrow
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DHX Media receives 'unusual' bid from Indian auto company space
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By ANDREW WILLIS
Wednesday, June 5, 2019 – Page B2
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-- An auto-parts company from India is making an unsolicited and unusual takeover overture for TV production company DHX Media Ltd., saying it is offering to buy the owner of the Peanuts and Teletubbies brands at a 300-percent premium to where its stock was trading.  FULL STORY arrow
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COURTSIDE AT THE 2019 NBA FINALS space
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By ANDREW WILLIS, MEGAN DEVLIN
Monday, June 3, 2019 – Page A8
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TORONTO -- For a basketball connoisseur like NBA commissioner Adam Silver, the best seats in Scotiabank Arena are a few rows back from the court, where he's just high enough in the stands to take in all the action as the Raptors play for their first championship.  FULL STORY arrow
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Analysts stand by Corus despite recent hiccups space
Viewership dip amid NBA Finals, last week's share sale seen as minor bumps ahead of company's third-quarter results at end of June
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By ANDREW WILLIS
Monday, June 3, 2019 – Page B5
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-- Analysts see better days ahead for Corus Entertainment Inc. as the company bounces back from a poorly received share sale last month and a temporary loss in viewers and advertisers to Toronto Raptors playoff games on rival networks.  FULL STORY arrow
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Who's cashing in on the Raptors space
After 24 years, Toronto has made the NBA Finals. It's a moment that marks a new apex for basketball in Canada - and the team's brand
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By SUSAN KRASHINSKY ROBERTSON, JAMES BRADSHAW, ANDREW WILLIS
Saturday, June 1, 2019 – Page B6
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-- If a puck drops in St. Louis - and the only Canadian team left in the spring postseason wears sneakers instead of skates - does it make a sound?Well, yes, but it's drowned out by the euphoric rumpus of Toronto Raptors fans, both the long-suffering and the newly minted. Deep down, hockey is still intrinsic to Canada's DNA.  FULL STORY arrow
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Oil-loving banks must reckon with the future space
CEOs' support for energy projects will be unable to withstand investors' push for better climate initiatives
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By ANDREW WILLIS
Saturday, June 1, 2019 – Page B4
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-- At first glance, Canada's big banks look to be solidly behind the country's major energy companies when it comes to exploiting the massive reserves locked up in Alberta's oil sands.  FULL STORY arrow
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Moneyball: How corporate Canada is cashing in on the Raptors' stunning success space
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By SUSAN KRASHINSKY ROBERTSON, JAMES BRADSHAW, ANDREW WILLIS
Saturday, June 1, 2019 – Page B1
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-- The Toronto Raptors' run to the NBA Finals is a marketer's dream, as young, diverse fans celebrate across the country.Companies that hitched themselves to the team are reaping the rewards, while rivals sit on the bench.  FULL STORY arrow
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Ford takes on beer industry with bill that paves way for corner-store sales space
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By JEFF GRAY, ANDREW WILLIS
Tuesday, May 28, 2019 – Page A1
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TORONTO -- Ontario Premier Doug Ford is tearing up a deal with the big-brewery-owned Beer Store retail chain to avoid having the province pay hundreds of millions in penalties as he seeks to fulfill a campaign promise to allow beer and wine sales in corner stores.  FULL STORY arrow
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CMHC boss takes aim at big banks for 'cavalier' mortgage lending space
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By ANDREW WILLIS
Monday, May 27, 2019 – Page B1
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-- Evan Siddall, the guy who backstops $448billion in mortgages for Canadian homeowners, is calling out the big banks for what he calls irresponsible behaviour that's fuelling a highly leveraged residential real estate market.  FULL STORY arrow
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Remaking Scotiabank Brian Porter is making big changes, but will investors buy in? space
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By JAMES BRADSHAW, ANDREW WILLIS
Saturday, May 25, 2019 – Page B6
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-- In 2014, shortly after taking over as chief executive officer at Bank of Nova Scotia, Brian Porter took 150 or so of the bank's most senior executives to the Sheraton in Toronto for an off-site strategy session. The presentation included a slide that listed the words staff most closely associated with working for the country's thirdlargest bank.  FULL STORY arrow
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The Scotiabank remake space
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By JAMES BRADSHAW, ANDREW WILLIS
Saturday, May 25, 2019 – Page B1
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-- At Bank of Nova Scotia, Brian Porter has upended a cozy culture, pushed out long-time executives, spent billions on new acquisitions and dumped parts of its much-touted international division. Now if only the stock market would buy his plan. James Bradshaw and Andrew Willis report B6  FULL STORY arrow
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Banks expected to lose millions after Corus deal fails to sell space
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By ALEXANDRA POSADZKI, TIM KILADZE, ANDREW WILLIS
Friday, May 24, 2019 – Page B1
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-- A syndicate of investment banks is expected to lose tens of millions of dollars after repricing a secondary offering of Corus Entertainment shares due to lowerthan-expected demand.The syndicate of underwriters, led by TD Securities, has repriced the offering of Class B Corus shares to $6.25 each, down from $6.80, according to people familiar with the matter and documents obtained by The Globe and Mail.  FULL STORY arrow
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Changes to Canada's airline industry are good for business travellers - and bad for the rest space
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By ANDREW WILLIS
Saturday, May 18, 2019 – Page B1
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-- Canada's two largest carriers are remaking the country's airline industry and the wheeling and dealing isn't expected to stop until there's a new owner for Porter Airlines Inc.  FULL STORY arrow
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BMO chops 100 capital markets jobs as part of cost-cutting space
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By JAMES BRADSHAW, ANDREW WILLIS
Friday, May 17, 2019 – Page B1
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-- Bank of Montreal is trimming the ranks of its capital-markets arm, eliminating approximately 100 jobs as the bank continues to hunt for ways to control its costs.The job cuts were announced internally over the course of a few days this week, according to sources who were granted anonymity by The Globe and Mail because they were not authorized to discuss the changes. The job losses span a range of divisions and seniority levels in Canada and the United States, as well as in other countries where BMO does business.  FULL STORY arrow
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Corus shares sink after Shaw sells its stake space
Telecom's move is part of strategic shift to focus on wireless, cable businesses
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By ANDREW WILLIS
Thursday, May 16, 2019 – Page B2
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-- Investors gave a cold reception to the $548-million sale of Corus Entertainment Inc. stock, knocking back the stock price by 17 per cent on Wednesday, a day after Shaw Communications Inc. cut ties with the Toronto-based broadcaster.  FULL STORY arrow
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Shaw resorts to secondary offering to sell Corus stake after failing to find a single buyer space
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By TIM KILADZE, ANDREW WILLIS
Wednesday, May 15, 2019 – Page B1
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-- Shaw Communications Inc. is unloading its 38.6-per-cent stake in Corus Entertainment Inc. in a $548million share sale, after struggling to sell the position to a single buyer last year.  FULL STORY arrow
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Fox Corp.'s 'insanely simple' bet on sports wagering space
U.S. media mogul Murdoch sees gambling as the next big wave in the industry, and he's taking Canada's Stars Group along for the ride
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By ANDREW WILLIS
Saturday, May 11, 2019 – Page B3
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-- Rupert Murdoch unveiled his vision of the future of entertainment this week, and it was tied to the potential of Canada's largest online gambling company.In what the 88-year-old media mogul described as a strategic ''pivot'' for Fox Corp., the global media company, Mr. Murdoch announced a U.S. sports wagering platform called Fox Bet on Thursday in partnership with Toronto-based Stars Group Inc., best known as owner of the PokerStars website.  FULL STORY arrow
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Ontario to gain an extra $13-million a year after Hydro One increases dividend payment space
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By ANDREW WILLIS
Friday, May 10, 2019 – Page B1
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-- At Hydro One Ltd.'s last annual meeting, Progressive Conservative candidate Doug Ford joined protesters on the sidewalk outside the gathering to attack the utility's CEO and his $6-million pay package.  FULL STORY arrow
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Ferrovial, CPPIB expected to match bid for SNC's stake in 407 space
Toll road's consistent financial results appeal to institutional investors as they seek alternatives to fixed-income assests such as infrastructure
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By ANDREW WILLIS
Friday, May 3, 2019 – Page B2
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-- Spain's largest construction company and Canada's biggest pension plan are expected to increase their stakes in Ontario's Highway 407 by matching a $3.25-billion offer for SNC-Lavalin Group Inc.'s holding in the toll road, a move that demonstrates the value of infrastructure to institutional investors.  FULL STORY arrow
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Another cannabis deal, another billionaire investor involved with both companies space
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By ANDREW WILLIS
Thursday, May 2, 2019 – Page B6
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-- One of the largest U.S. East Coast cannabis retailers, Curaleaf Holdings Inc., plans to acquire the leading West Coast cannabis-oil producer for $1.27-billion in a deal that features a billionaire investor on both sides of the table and minimal opportunities for independent scrutiny of the takeover.  FULL STORY arrow
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Macquarie's retreat signals a streamlining of investment banking space
The Australian firm's Canadian restructuring is a wake-up call not only for small-cap companies that look to independent dealers for funding, but for the capital-raising community as a whole
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By ANDREW WILLIS
Tuesday, April 30, 2019 – Page B4
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-- Australia's largest investment bank, Macquarie Group Ltd., spent $350million over more than a decade building a brokerage house that was intended to be a force in Canadian capital markets.  FULL STORY arrow
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THE A TEAM space
RBC Capital Markets is becoming the New England Patriots of Bay Street--increasingly, it's them versus all the other investment dealers
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By ANDREW WILLIS
Friday, April 26, 2019 – Page P27
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-- It's time to acknowledge that when it comes to investment banking, RBC Capital Markets is playing in a different league than its Canadian rivals. The deal-making arm of Royal Bank of Canada churned out $8.4 billion in revenue last year, almost as much as its second- and thirdranked domestic competitors put together. In the same way it seems preordained that football's New England Patriots will be Super Bowl favourites every year, it now appears certain that RBC Capital Markets will make far more money than any other Bay Street dealer.  FULL STORY arrow
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Aritzia's new take on share buybacks inspires First Capital Realty to help shareholder unload $1.2-billion stake space
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By ANDREW WILLIS
Monday, April 15, 2019 – Page B2
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TORONTO -- The new spring lines from fashion retailer Aritzia Inc. feature a floral-pattern Sunday Best Cropsey Romper that rivals may knock off, along with an innovative $437-million deal for a long-time backer that Bay Street bankers are already emulating.  FULL STORY arrow
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Dear dairy: Saputo may be eyeing a risky move space
Analysts say Montreal company is looking at U.S. milk producer Dean Foods, but they warn a takeover may be poorly received
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By ANDREW WILLIS
Saturday, April 13, 2019 – Page B6
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-- Lino Saputo Jr. and his father have built one of the world's largest dairy companies with a string of more than 30 successful acquisitions. The 52-yearold CEO's next takeover may be his toughest challenge to date.  FULL STORY arrow
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Maple Leaf invests in plant-based products as tastes change space
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By ANDREW WILLIS
Tuesday, April 9, 2019 – Page B1
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-- Maple Leaf Foods Inc. announced plans on Monday to spend US$336-million on factories to produce plant-based protein products as part of a strategy to ensure shoppers buy the company's burgers, whether they are made from beef or tofu.  FULL STORY arrow
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Canada's first-mover advantage in the cannabis sector is going up in smoke space
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By ANDREW WILLIS
Saturday, April 6, 2019 – Page B8
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-- One short year ago, Canada could proudly claim to be a world leader in cannabis. The federal Liberal government's decision to legalize recreational marijuana sparked a new industry and a string of public market debuts. The 10 largest cannabis companies in the world called this country home.  FULL STORY arrow
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Knight fight: Goodman fires back in escalating battle for Montreal pharmaceutical company space
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By ANDREW WILLIS
Friday, April 5, 2019 – Page B1
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-- Knight Therapeutics Inc. took aim at a dissident shareholder's financial issues and ''self-interested'' motives on Thursday as the fight for control of the $1-billion Montreal-based drug company grows increasingly bitter.  FULL STORY arrow
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Israeli drug maker fights for control of board at Knight Therapeutics space
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By ANDREW WILLIS
Monday, April 1, 2019 – Page B1
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-- The largest shareholder in Knight Therapeutics Inc.plans to launch a proxy fight Monday for control of the $1-billion drug company, following a year-long activist campaign against Canadian pharmaceutical entrepreneur Jonathan Goodman.  FULL STORY arrow
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AIG exits Canadian home, auto insurance market amid industry shakeout space
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By ANDREW WILLIS
Friday, March 29, 2019 – Page B1
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-- AIG Insurance Co. of Canada is quietly exiting the domestic home and auto insurance business, the latest player to quit the domestic market amid a consolidation trend that's contributing to a rise in insurance rates.  FULL STORY arrow
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Hydro One appoints B.C. utility executive Mark Poweska for top job space
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By ANDREW WILLIS
Friday, March 29, 2019 – Page B1
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-- Hydro One Inc. concluded its bruising eight-month search for a new leader on Thursday by announcing B.C. Hydro executive Mark Poweska is the utility's new president and CEO.  FULL STORY arrow
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HOOPP head's impending exit has two pension plans seeking CEOs space
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By ANDREW WILLIS
Thursday, March 28, 2019 – Page B2
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-- Healthcare of Ontario Pension Plan chief executive Jim Keohane announced Wednesday that he is retiring next year, leaving two of Canada's largest pension funds looking for new leaders after OPTrust launched a search for a new head last week.  FULL STORY arrow
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A storm brews at Richardson GMP amid three conflicting views for its future space
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By ANDREW WILLIS
Wednesday, March 27, 2019 – Page B1
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-- Wealth manager Richardson GMP Ltd. is a dormant volcano these days, with only the occasional puff of smoke, in the form of a few employee departures, to signal the pressure that's building within a firm that manages $27.4-billion.  FULL STORY arrow
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Canadian CEOs look abroad for investment as confidence sags in leadership at home space
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By ANDREW WILLIS
Monday, March 25, 2019 – Page B1
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-- Conservative Leader Andrew Scheer and Liberal Finance Minister Bill Morneau trudged through an Ottawa blizzard last month to pitch their respective platforms to an audience of Canadian chief executives. The chill in the room matched the temperature outside, and helps explain why the country's business leaders are increasing their investments outside Canada.  FULL STORY arrow
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Onex to buy wealth manager Gluskin Sheff in $445-million deal space
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By DAVID MILSTEAD, ANDREW WILLIS
Saturday, March 23, 2019 – Page B1
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-- Private-equity firm Onex Corp. is buying Gluskin Sheff + Associates Inc., one of Canada's last remaining independent wealth managers, in a $445million deal.The Onex offer of $14.25 a share represents a 28-per-cent premium to Friday's closing price of $11.17, but Gluskin Sheff is agreeing to be sold at less than half its peak value of early 2014.  FULL STORY arrow
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Economical Mutual Insurance moves closer to IPO space
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By CLARE O'HARA, ANDREW WILLIS
Friday, March 22, 2019 – Page B2
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-- Economical Mutual Insurance Co. is one step closer to a proposed $1.9-billion initial public offering after a first group of policyholders voted 99 per cent in favour of the insurer's demutualization plans.  FULL STORY arrow
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SNC never claimed jobs were at risk, CEO says space
Neil Bruce says company did not cite economic reasons for settlement of corruption charges, contradicting government officials
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By NICOLAS VAN PRAET, ANDREW WILLIS
Thursday, March 21, 2019 – Page A1
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-- SNC-Lavalin Group Inc. says it did not cite job losses as a reason to be granted a settlement in its criminal corruption trial and did not threaten to move its head office out of Canada if prosecutors refused to agree to such a deal, undermining two key assertions from federal officials in the weeks-long controversy.  FULL STORY arrow
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SNC's Neil Bruce says 'we need to move on' from corruption controversy as he rebuilds business space
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By ANDREW WILLIS
Thursday, March 21, 2019 – Page B1
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-- A big part of Neil Bruce's job lately has been sitting down with clients of SNC-Lavalin Group Inc. to find out why his company lost out on multibillion-dollar engineering contracts.  FULL STORY arrow
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Timbercreek launches second Irish property fund amid Brexit chaos space
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By ANDREW WILLIS
Monday, March 18, 2019 – Page B1
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-- Canadian real estate fund Timbercreek Investment Management Inc. is launching its second Irish property fund to take advantage of the Brexit chaos, which is driving companies out of the United Kingdom and into cities such as Dublin.  FULL STORY arrow
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Callidus interim CEO resigns weeks before year-end results space
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By ANDREW WILLIS, JEFFREY JONES
Tuesday, March 12, 2019 – Page B1
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-- The interim chief executive officer of alternative lender Callidus Capital Corp. has resigned without explanation, less than five months after signing on and weeks before the company is due to report year-end results.  FULL STORY arrow
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Catalyst tries again with Gateway IPO amid pressure to cash in some of funds' holdings space
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By ANDREW WILLIS, JEFFREY JONES
Monday, March 11, 2019 – Page B1
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-- President Donald Trump, a former casino owner, may have done Gateway Casinos and Entertainment Ltd. a favour by shutting down the U.S. federal government in late December.Burnaby, B.C.-based Gateway announced plans to go public on the New York Stock Exchange in late November, initially targeting the sale of US$100-million in shares. The casino company, owned by financier Newton Glassman's private equity firm, Catalyst Capital Group Inc., quickly hit two roadblocks. First, equity markets went into a tailspin in December.  FULL STORY arrow
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In the face of skepticism, Enbridge's CEO continues his charm offensive space
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By ANDREW WILLIS
Tuesday, March 5, 2019 – Page B4
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-- Like a politician out knocking on doors in search of votes, Enbridge Inc. CEO Al Monaco is working the rubberchicken circuit in search of public support for new pipelines.And like any aspiring candidate, the veteran utility executive is getting doors slammed in his face as he tries to find new ways to move Alberta oil to global markets.  FULL STORY arrow
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Will Hydro One be Ford's version of gas plant mess? space
Ontario government is throwing away money by meddling in publicly traded utility to score partisan political points
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By ANDREW WILLIS
Monday, March 4, 2019 – Page B2
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-- Former Ontario premier Dalton McGuinty's reputation was tarnished by his government's mishandling of the province's electricity market. His politically motivated decision to cancel development of two gasfired power plants turned into a $1.1-billion boondoggle.  FULL STORY arrow
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Justice, jobs and SNC-Lavalin space
The Trudeau government may want to protect the company from prosecution to preserve jobs. But SNC is already a much smaller employer than it used to be
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By NICOLAS VAN PRAET, ANDREW WILLIS
Saturday, March 2, 2019 – Page B6
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-- When Canada went to war in Afghanistan in 2001, the federal government turned to SNCLavalin Group Inc. to set up a base for its troops.The Montreal-based engineering and construction firm provided logistics support and built the Camp Julien military base on a rubble-strewn stretch of land on the western edge of Kabul. Working under the constant threat of attack near homes shattered by previous conflict, they set up everything the Canadian army would need: Sewage system, power supply, dining and washing facilities, a helicopter pad and a makeshift hockey rink.  FULL STORY arrow
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JUSTICE, JOBS AND SNC-LAVALIN space
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By NICOLAS VAN PRAET, ANDREW WILLIS
Saturday, March 2, 2019 – Page B1
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-- Prime Minister Justin Trudeau has landed in hot water for his government's efforts to protect the engineering giant from a criminal trial. His defenders say he's trying to protect thousands of jobs. The economic facts are more complicated.  FULL STORY arrow
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Canaccord head of research to retire in March space
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By ANDREW WILLIS
Monday, February 25, 2019 – Page B6
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-- A changing of the guard is coming in the research team at Canaccord Genuity Group Inc. as long-time telecom analyst and department head Dvai Ghose steps down at the end of March and cannabis analyst Derek Dley becomes head of the investment bank's Canadian research group.  FULL STORY arrow
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For Economical owners, windfall from planned IPO continues to shrink space
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By CLARE O'HARA, ANDREW WILLIS
Tuesday, February 19, 2019 – Page B1
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-- For a handful of its clients, the planned public-market debut of Economical Mutual Insurance Co. is a long-promised lottery win that keeps shrinking in size.Economical is the country's eighth-largest auto and home insurer, with an estimated value of up to $1.9-billion. The Waterloo, Ont.-based company, founded in 1871, has spent the past nine years on an occasionally dramatic journey toward an initial public offering; at one stage, the company parted ways with its chief financial officer over allegations he leaked confidential information on the IPO.  FULL STORY arrow
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Toronto investment bank Infor prepares for wave of corporate credit restructurings space
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By ANDREW WILLIS
Monday, February 18, 2019 – Page B2
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-- Infor Financial Inc. sees trouble brewing in the corporate credit market.In a contrarian move, the Toronto investment bank recently launched a restructuring business to advise financially distressed companies.It's rare to see a business run into credit difficulties these days, as interest rates remain low by historic standards and corporations enjoy easy access to debt. But Infor is betting North America's decade-long credit-fuelled party is about to end and a nasty hangover is coming.  FULL STORY arrow
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Frank Stronach's granddaughter joins family feud, files suit against aunt Belinda space
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By ANDREW WILLIS
Thursday, February 14, 2019 – Page A1
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-- The youngest member of the Stronach clan has added another strand to a web of lawsuits over control of the family fortune, as 18-year-old Selena Stronach went to court last week with a suit aimed at maintaining a jet-set lifestyle and limiting the role of her aunt Belinda Stronach, who is currently running the family's billion-dollar horse-racing, real-estate and farming business.  FULL STORY arrow
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Anson Advisors urges TSX to scrutinize planned Acasta debt-for-equity swap space
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By ANDREW WILLIS
Wednesday, February 13, 2019 – Page B3
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-- Hedge-fund manager Anson Advisors Inc. is asking the Toronto Stock Exchange to intervene in a planned refinancing of troubled Acasta Enterprises Inc. by the company's newly minted co-CEOs.  FULL STORY arrow
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The Bay Street fumble: $500,000 Super Bowl pot goes missing space
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By TIM KILADZE, ANDREW WILLIS
Monday, February 11, 2019 – Page A1
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-- Two days before the game, word started to spread: The pot had gone missing.Every year around the Super Bowl, Bay Street stock traders and their friends participate in a high-stakes pool.  FULL STORY arrow
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Court places Mike Weir Wine in receivership space
The failed winery owes more than $6-million, including $2.2-million to its namesake
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By DAVID EBNER, ANDREW WILLIS
Tuesday, February 5, 2019 – Page B2
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-- Golfer Mike Weir and broadcaster Bob McCown, two of the bestknown names in Canadian sports, are in a court battle over Mike Weir Wine Inc., a failed winery.Mr. McCown, who hosts the afternoon drive-time radio show Prime Time Sports in Toronto, owns the winery - and the winery owes Mr. Weir $2.2-million.  FULL STORY arrow
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Economical's IPO value: up to $1.9-billion space
Waterloo, Ont., insurer to hold March 20 meet to allow owners to vote on going public as part of demutualization
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By ANDREW WILLIS
Saturday, February 2, 2019 – Page B2
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-- Following in the footsteps of Canada's largest insurers, 148-yearold Economical Mutual Insurance Co. is moving forward with an initial public offering that is expected to value the Waterloo, Ont.-based company at up to $1.9billion.  FULL STORY arrow
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Telus, BCE need to prepare for a 5G future without Huawei space
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By ANDREW WILLIS
Wednesday, January 30, 2019 – Page B1
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-- You don't need a crystal ball to predict where the Canadian government is going to come down on who should build the country's 5G wireless networks. Or rather, who shouldn't.  FULL STORY arrow
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For SNC, Saudi writedown is the cost of Ottawa's public diplomacy space
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By ANDREW WILLIS
Tuesday, January 29, 2019 – Page B1
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-- For most Canadians, television footage of 18-year-old Saudi asylum seeker Rahaf Mohammed walking through Toronto's airport on the arm of Foreign Affairs Minister Chrystia Freeland was a feel-good moment.  FULL STORY arrow
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Hydro One scraps planned $4.4-billion takeover of Avista space
Utility to pay $103-million breakup fee after perceived interference from Ontario's PC government
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By ANDREW WILLIS
Thursday, January 24, 2019 – Page B1
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-- Hydro One Ltd. formally called off its planned $4.4-billion takeover of Avista Corp. on Wednesday and will pay the U.S.utility a US$103-million termination fee for a deal that failed due to perceived political interference from Ontario's Progressive Conservative government.  FULL STORY arrow
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Stronach's court fight threatens to put his legacy on the ropes space
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By ANDREW WILLIS
Wednesday, January 23, 2019 – Page B1
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-- Like a boxer who has stepped into the ring too many times, entrepreneur Frank Stronach is seeing his business reputation take a pounding in an increasingly nasty courtroom battle with his daughter and her allies for control of the family's fortune.  FULL STORY arrow
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Stronach's ventures lost $800-million, daughter alleges in court filing space
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By ANDREW WILLIS
Tuesday, January 22, 2019 – Page A1
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-- Industrialist Frank Stronach is alleged to have lost $800million on several misguided investments, a track record that daughter Belinda Stronach says should prevent the 86-year-old from taking back control of the businesses he built over a lifetime.  FULL STORY arrow
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Auto Trader parent readies company for IPO or sale space
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By ANDREW WILLIS, SEAN SILCOFF
Monday, January 21, 2019 – Page B1
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-- Online automobile marketplace Trader Corp. is back on the auction block, with its U.S. private equity parent preparing for an initial public offering or sale of a business that has gone through a number of different owners in recent years.  FULL STORY arrow
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Who's next in the gold-industry merger wave? space
Ideal takeover candidate holds large mineral reserves that aren't reflected in share price
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By ANDREW WILLIS
Tuesday, January 15, 2019 – Page B2
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-- In the gold sector, nothing gets the sharks circling like the combination of promising mines and a depressed stock price. The sector's prolonged slump now has its biggest predators, Newmont Mining Corp. and Barrick Gold Corp., feeding on weaker rivals, creating expectation of further takeovers in an industry where many experts see consolidation as long overdue.  FULL STORY arrow
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Cannabis boom masked a shift at Canaccord space
Hoopla around pot drew attention away from growth of firm's wealth management businesses
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By ANDREW WILLIS
Monday, January 14, 2019 – Page B4
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-- The cannabis boom in capital markets has been a blessing and a curse for investment bank Canaccord Genuity Group Inc.The upside of the two-year bull market in pot stocks that came ahead of the legalization of recreational marijuana in Canada is obvious. Canaccord chief executive officer Dan Daviau and his team saw the potential for financing an emerging industry three years before the federal Liberal government pushed through legislation to legalize recreational use - devoting investment bankers, traders and analysts to the sector. Bay Street's favourite topic of conversation over drinks is how much Canaccord executives are personally making off cannabis plays. Best guesses run to the tens of millions.  FULL STORY arrow
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Want to fix Canada's cannabis-supply mess? Send in the grocery giants space
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By ANDREW WILLIS
Saturday, January 12, 2019 – Page B1
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-- Canada's groundbreaking cannabis experiment is going off the rails. I know exactly who can fix the problem - a 90-year-old Vancouver billionaire.  FULL STORY arrow
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How RBC is grinding to top of the capital-markets mountain space
By a number of measures, the dealer ranks among the top 15 players worldwide, with plans to go higher. But CEO Doug McGregor says a slow-and-steady push will prevail in the end
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By ANDREW WILLIS
Tuesday, January 8, 2019 – Page B4
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-- Doug McGregor contends that he knows exactly what it would take to quickly vault Royal Bank of Canada's capital-markets business into the very top ranks of global investment dealers.  FULL STORY arrow
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Why Hydro One is determined to pursue U.S. utility Avista space
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By ANDREW WILLIS
Thursday, December 27, 2018 – Page B1
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-- L ike a dog chasing a car, executives at Hydro One Ltd. are going into the new year determined to complete their $4.4billion takeover of U.S. utility Avista Corp.  FULL STORY arrow
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Apotex names Watson as leader after chief executive Kay departs space
Former head of sales, who joined the company in January, has overseen a number of initiatives over the past year
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By ANDREW WILLIS
Thursday, December 20, 2018 – Page B5
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-- The future of generic-drug maker Apotex Inc. is now in the hands of its former head of sales, Jeff Watson, as the company puts new leadership in place following the death of founder Barry Sherman just more than a year ago.  FULL STORY arrow
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Shopify drops 19.5 per cent in two days after firm unveils surprise financing space
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By ANDREW WILLIS
Tuesday, December 18, 2018 – Page B1
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-- Software firm Shopify Inc. added US$440-million to its war chest last week with a stock offering that it said would improve its balance sheet and help pay for future growth plans. That decision has proved to be a headache for its shareholders and the investment banks that led the deal.  FULL STORY arrow
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Apotex heir: A drug titan's son steps in at a company in transition space
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By ANDREW WILLIS
Saturday, December 15, 2018 – Page B1
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-- Jonathon Sherman's first stint at Apotex Inc., his father's generic drug company, lasted just seven months.Fresh out of engineering school at Columbia University, Barry and Honey Sherman's only son took on a project installing new technology for Apotex's pill packaging lines, then quit to do a 250-kilometre endurance race across the Gobi desert with one of his three sisters.  FULL STORY arrow
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Aphria expected to cut ties to law firm after criticism of asset deal space
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By ANDREW WILLIS
Wednesday, December 12, 2018 – Page B1
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-- Aphria Inc. and its long-time law firm, Stikeman Elliott LLP, are expected to cut ties after a deal by the cannabis company to buy assets in Jamaica, Colombia and Argentina came under heavy scrutiny from investors.  FULL STORY arrow
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Does Paul Godfrey know when to walk away? space
During a conference call this year, hedge-fund honcho Leon Cooperman raised big questions about what, and when, the 79-year-old Postmedia CEO will leave his struggling empire
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By ANDREW WILLIS
Monday, December 10, 2018 – Page B4
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-- Earlier this year, billionaire hedge-fund manager Leon Cooperman asked Paul Godfrey the question many are wondering: Why does an executive who is nearly 80 years old continue to run a debt-heavy public company that cries out for reinvention?  FULL STORY arrow
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At $2 a share, Callidus offer a fraction of target price space
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By JEFFREY JONES, ANDREW WILLIS
Friday, December 7, 2018 – Page B1
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-- An investment company controlled by a British billionaire has offered to take Callidus Capital Corp. private for $2 a share, a fraction of the target price that Callidus's chairman had set for such a deal.  FULL STORY arrow
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Ford's Hydro One meddling makes doing business in Ontario a tough sell space
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By ANDREW WILLIS
Friday, December 7, 2018 – Page B1
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-- Ontario Premier Doug Ford promised to get rid of the $6-million man running utility Hydro One Ltd. during his successful election campaign last spring.Keeping that promise appears to have cost Hydro One at least $185-million, killed plans to create a market-leading company and sullied the province's reputation as a place to do business.  FULL STORY arrow
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Ford, Hydro One at odds over CEO space
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By ANDREW WILLIS, KAREN HOWLETT
Saturday, December 1, 2018 – Page B1
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-- Ontario Premier Doug Ford is in a standoff with independent directors on the Hydro One board over who will be the utility's next CEO. The outcome of the fight is expected to determine the future direction of the company that transmits electricity in the province.  FULL STORY arrow
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Scotiabank's exit from Caribbean insurance opens door for Sagicor in Canada space
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By ANDREW WILLIS
Wednesday, November 28, 2018 – Page B2
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-- Bank of Nova Scotia's decision to exit the life insurance market in Jamaica and Trinidad and Tobago paved the way Tuesday for one of the Caribbean's oldest and largest insurers, Sagicor Financial Corp., to make its debut on Canadian markets.  FULL STORY arrow
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Maple Leaf to build new $660-million Ontario plant space
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By ANDREW WILLIS
Tuesday, November 27, 2018 – Page B15
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-- Maple Leaf Foods Inc. announced plans Monday to build a $660-million poultry processing facility in London, Ont., that is expected to meet a growing appetite for meals that revolve around premium chicken products.  FULL STORY arrow
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Fairfax positioned to benefit as major shareholder in merger of Greece's two largest financial institutions space
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By ANDREW WILLIS
Tuesday, November 27, 2018 – Page B1
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-- Two of Greece's largest financial institutions announced merger plans on Monday in a deal that better positions major shareholder Fairfax Financial Holdings Ltd. for a rebound in the Greek economy.  FULL STORY arrow
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Ex-GFL CEO launches waste-disposal firm space
Ardellini's new venture E360S aims to grow through acquisitions, starting in Alberta
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By ANDREW WILLIS
Wednesday, November 21, 2018 – Page B2
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TORONTO -- Danny Ardellini helped build one of North America's largest waste-disposal companies. Now, the former coCEO of GFL Environmental Inc. is jumping back into the business in Alberta with the first of what's expected to be a string of takeovers, backed by up to $100-million from former NHL star Paul Coffey and private-equity fund Almada Inc.  FULL STORY arrow
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Bank-owned dealers log forgettable year as independents cash in on cannabis space
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By ANDREW WILLIS
Monday, November 12, 2018 – Page B1
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-- Canada's banks closed the books on their financial year at the end of October, and when it comes to deal-making in their capital markets divisions, 2018 goes down as a year to forget.  FULL STORY arrow
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With Hydro One stuck at the intersection of politics and commerce, the hunt for a new CEO is an uphill battle space
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By ANDREW WILLIS
Saturday, November 10, 2018 – Page B1
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-- The acting CEO of Hydro One Ltd., Paul Dobson, said all the right things last week, when Ontario's electrical transmission utility reported strong financial results and steady progress on its $6.7-billion takeover of Avista Corp., a U.S. company that provides power in Idaho, Washington State, Oregon and Alaska.  FULL STORY arrow
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Founders of private equity firm jump back into aircraft leasing space
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By ANDREW WILLIS
Thursday, November 8, 2018 – Page B1
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TORONTO -- Entrepreneurs Martin Goldfarb and Alon Ossip learned about aircraft leasing the hard way, by watching their first investment in the business lose more than half its value this spring.Undaunted, the two founders of Toronto-based private-equity firm Almada Inc. are jumping back into the aviation industry on Thursday, with an $80-million investment in five planes they expect to grow into a larger fleet. Almada will announce the acquisition of three used passenger planes - two Bombardier Q400s and a Basler BT67, which is based on the design of the storied Douglas DC-3 - and has two other aircraft under contract, a Boeing 737-800 and an Airbus A321-200.  FULL STORY arrow
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How Frank Stronach's dream of building Florida's finest private golf course turned into a nightmare space
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By ANDREW WILLIS
Wednesday, November 7, 2018 – Page B1
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OCALA, FLA. -- Frank Stronach's potential multimillion-dollar losses on a luxury golf course in central Florida are expected to play a central role in a court case involving control of his family's fortune.  FULL STORY arrow
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Andrew Stronach files suit against sister Belinda amid family feud space
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By ANDREW WILLIS
Monday, November 5, 2018 – Page A1
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-- The Stronach family feud is spreading with Andrew Stronach joining forces with his parents by filing a lawsuit accusing his sister Belinda Stronach of ''serious misconduct'' at the family company she currently runs and demanding that she hand over control of his stake in the business.  FULL STORY arrow
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Stronach strife: The feud over a family fortune space
Racetracks, cattle ranching and an 11-storey statue: Why Belinda drew the line over Frank's adventures in the sunshine state
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By ANDREW WILLIS
Saturday, November 3, 2018 – Page B1
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OCALA, FLA. -- A tour of Frank Stronach's vast ranch in central Florida is a journey into one man's dreams.For more than a decade, the Canadian auto parts magnate sought to build an organic food empire here amid the rolling hills and moss-draped oak trees.  FULL STORY arrow
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Former Teachers executives launch private-equity fund space
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By ANDREW WILLIS
Thursday, November 1, 2018 – Page B5
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-- Veterans of the Ontario Teachers' Pension Plan launched a private-equity fund on Thursday with plans to distinguish their firm from a crowded field by making long-term commitments to the businesses they buy.  FULL STORY arrow
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U.S. pot firms look north as race to raise funds heats up space
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By CHRISTINA PELLEGRINI, ANDREW WILLIS
Saturday, October 27, 2018 – Page B1
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-- A trio of U.S. cannabis companies raised nearly US$1-billion from equity sales this week ahead of listing their shares on a Canadian exchange as investors turn their attention to marijuana stocks with exposure to the American market.  FULL STORY arrow
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Belinda Stronach offered to settle TSG dispute weeks before father's suit space
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By ANDREW WILLIS
Friday, October 12, 2018 – Page A1
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-- Frank Stronach decided to take his daughter to court over control of a $1.5-billion empire after Belinda Stronach made a take-it-or-leave-it offer to settle a two-year feud that would have seen her take control of the family's crown jewel, its horse-racing and gambling business, sources say.  FULL STORY arrow
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Stronach sues daughter for control of family firm space
Auto parts magnate alleges Belinda Stronach and company CEO mismanaged his fortune, froze him out of business
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By ANDREW WILLIS
Thursday, October 11, 2018 – Page A1
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-- A two-year-old family feud has spilled into the open with auto-parts magnate Frank Stronach launching a $520-million lawsuit against daughter Belinda Stronach and her perceived allies, alleging that they mismanaged his fortune and froze him out of the business he built over six decades.  FULL STORY arrow
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Caisse allies with Gore firm for long-term deals space
Quebec pension manager's $3-billion partnership with company co-founded by former U.S. vice-president part of shift toward holding private investments for up to 15 years
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By ANDREW WILLIS
Wednesday, October 10, 2018 – Page B1
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-- The Caisse de depot et placement du Quebec struck a US$3-billion alliance with a money manager cofounded by former U.S. vice-president Al Gore, creating a partnership that aims to make investments that can be held as long as 15 years.  FULL STORY arrow
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Wall Street vets seeking cannabis fortunes in Canada space
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By ANDREW WILLIS
Saturday, October 6, 2018 – Page B4
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-- What would compel ambitious deal makers at Goldman Sachs and other top-tier investment banks to turn their backs on Wall Street, and instead seek their fortune on a backwater Canadian stock exchange? In a word, weed.  FULL STORY arrow
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Hootsuite hires Goldman to explore sales process, sources say space
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By ANDREW WILLIS
Saturday, October 6, 2018 – Page B18
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-- Hootsuite Inc., one of Canada's most successful social media companies, is up for sale.Vancouver-based Hootsuite recently hired investment bank Goldman Sachs Group Inc. to find a buyer for the business, with a potential valuation of approximately $1-billion, according to investment banking sources. Hootsuite is currently owned by its management team and a number of venture capital funds. The potential sale of the firm was first reported on Friday by Reuters.  FULL STORY arrow
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Private equity investor plans to double Coca-Cola Canada sales space
Larry Tanenbaum has purchased a countrywide bottling and distribution network with 5,800 employees
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By ANDREW WILLIS
Tuesday, October 2, 2018 – Page B2
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-- Entrepreneur Larry Tanenbaum is betting there is life after sugar for Coca-Cola Co. by acquiring the global beverage company's Canadian bottling and distribution network with plans to double the size of the business.  FULL STORY arrow
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Truck-leasing company Element Fleet launches turnaround effort space
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By ANDREW WILLIS
Tuesday, October 2, 2018 – Page B2
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-- Turnaround expert Jay Forbes unveiled his fix for leasing company Element Fleet Management Corp. on Monday by announcing plans to improve customer service, wind down a troubled division, slash the dividend and raise $300-million in an equity offering.  FULL STORY arrow
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Ruffolo exits OMERS Ventures after 'unparalleled' run as CEO space
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By ANDREW WILLIS, SEAN SILCOFF
Saturday, September 29, 2018 – Page B9
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-- Venture-capital investor and Canadian technology cheerleader John Ruffolo is leaving one of the country's largest pension plans, the Ontario Municipal Employees Retirement System.Mr. Ruffolo launched OMERS Ventures, an arm of the $95-billion OMERS fund, in 2011 and put capital into startup tech companies at a time when the venturecapital sector was in retrenchment mode following the collapse of Nortel Networks Corp.  FULL STORY arrow
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AGF Management's Goldring to hand reins to McCreadie space
Chief investment officer will succeed family scion as CEO on Dec. 1
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By ANDREW WILLIS
Thursday, September 27, 2018 – Page B6
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-- For the first time in its 61-year history, mutual fund company AGF Management Ltd. will not be run by someone named Goldring.Toronto-based AGF, which oversees $39-billion, announced on Wednesday that president and chief investment officer Kevin McCreadie will become chief executive on Dec. 1, succeeding Blake Goldring, who took the reins 18 years ago at the firm his father founded in 1957.  FULL STORY arrow
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Slate bets on office-space revival with renovation of Calgary landmark space
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By ANDREW WILLIS
Thursday, September 27, 2018 – Page B2
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-- Slate Asset Management LP is wagering $60-million on a turnaround in Calgary's moribund commercial real estate market by launching a top-to-bottom renovation of one of the city's landmarks, the 40-floor Scotia Centre.  FULL STORY arrow
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Catalyst-West Face battle heats up ahead of investor meetings space
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By JEFFREY JONES, ANDREW WILLIS
Wednesday, September 26, 2018 – Page B2
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-- Financier Newton Glassman fired a legal salvo at rivals and filed paperwork for a long-promised sale of its casino business on Tuesday, ahead of an annual meeting of investors in his private equity fund, Catalyst Capital Group Inc.  FULL STORY arrow
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U.S. cannabis firms eye market debut in Canada space
Runup in share prices ahead of legalization next month pulls American companies toward Canadian exchanges
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By ANDREW WILLIS, CHRISTINA PELLEGRINI
Monday, September 24, 2018 – Page A1
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-- At least a dozen cannabis companies that operate in the United States are preparing to go public on Canadian stock exchanges, backed by local investment banks and law firms that have been hired to help them tap the market.  FULL STORY arrow
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Complete Index of Today's Print Headlines
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