The group that operates the Toronto Stock Exchange has killed a $3.7-billion proposed merger with the London Stock Exchange Group, saying the controversial deal could not garner enough shareholder support to go ahead. TMX Group said Wednesday that a majority of proxy votes sent in ahead of its Thursday annual meeting supported the merger but […]
Merger and acquisition (M&A) activity is a cyclical business, and, after the meltdown and liquidity issues of 2008, it has been in a trough, to say the least. While we saw some transactions last year, 2011 should see an even higher level of activity—an increase that holds potential for institutional investors. The conditions for an […]
With the credit and economic turmoil of 2008 and 2009 now well behind us and the flurry of merger and acquisition (M&A) activity at the tail end of 2010, pension and benefits plans continue to get a lot of attention in the press and corporate boardrooms. Why? Simple. There are big dollars and risks involved. […]
Perhaps you’re a member of a mergers and acquisitions (M&A) team and your company is considering an acquisition. What if you’re not a pension expert? What if, during due diligence, you discover that the company you are considering acquiring has one or more DB pension plans or other long-term obligations such as retiree health benefits? […]
British Columbia Investment Management Corporation (bcIMC) and the crown corporation Public Sector Pension Investment Board (PSP Investments) have entered into a definitive agreement to acquire TimberWest Forest Corp. Under the terms of the arrangement agreement, holders of stapled units of TimberWest will receive a purchase price of $6.48 in cash on closing of the transaction […]
The Canadian M&A market continued its momentum into the fourth quarter of 2010, making it the third successive quarter of increased M&A activity in terms of both transaction volume and value, according to the Financial Post Crosbie: Mergers & Acquisitions in Canada database. Riding on the back of the announcement of 302 transactions, the value […]
The announcement earlier this week of the merger—some say takeover—between TMX Group, operator of the Toronto Stock Exchange, and the London Stock Exchange (LSE) took the industry by surprise. The impact it will have on pension funds is highly dependent on how the deal shakes out. The deal could have a promising outcome for pension […]
TMX Group, operator of the Toronto Stock Exchange, has announced that it will merge with the London Stock Exchange (LSE). The result would be a trans-Atlantic market with a dominant role in capital financing for the mining industry. The spin off for Canadian investors is that the investing population of Britain—more than double that of […]
Blevins Insurance Group and Jones DesLauriers & Reynolds Financial Services Group Inc. have made a deal to merge, which will result in the two firms forming one prominent Tier 2 financial services organization. The new consolidated brokerage will take the name Jones DesLauriers Blevins Insurance Group Inc. and will offer employee benefits, third-party administration, life […]
The Healthcare of Ontario Pension Plan (HOOPP) has formed a major partnership deal that will see it take a 50% stake in the $159-million St. James’s Gateway development in London, U.K. and the adjacent Clydesdale block. It’s partner, The Crown Estate, will retain freehold ownership of the blocks and grant the joint venture a new […]