Here are the top reads on deals and financial services over the last 24 hours,
DEALS NEWS: MERGERS, ACQUISITIONS, IPOs and FINANCINGS
Catalyst Capital proposes takeover bid for HBC: Catalyst Capital Group Inc. is proposing a takeover bid for Hudson’s Bay Co. in an effort to disrupt a plan by the retailer’s executive chairman to take the company private. Story (Jeffrey Jones)
Saudi Arabia’s Gulf neighbours stepping in to help Aramco hit IPO target: Saudi Arabia’s neighbours plan to invest in the initial public offering of Saudi Aramco, sources familiar with the matter said, helping out Riyadh as it strives to raise $25.6 billion from a domestic listing of the state oil giant. Story (Reuters)
Transcontinental selling packaging operations for $239-million: TC Transcontinental has signed a deal to sell its paper and woven polypropylene packaging operations to Hood Packaging Corp. for about $239-million. Story (The Canadian Press)
Couche-Tard sees ‘greatest synergies’ in U.S. expansion: Alimentation Couche-Tard Inc. will continue to focus on expanding its U.S. footprint despite proposing an acquisition in Australia it hopes will be a springboard for expansion in Asia Pacific, the convenience-store operator’s chief executive said. Story (The Canadian Press)
FINANCIAL SERVICES NEWS
CI Financial moves into U.S. market: CI Financial Corp. has moved into the United States market for the first time with the purchase of a majority stake in Surevest Wealth Management, a Phoenix-based investment advisory business. Story (Clare O’Hara)
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