Here are the top reads on deals and financial services over the last 24 hours,
DEALS NEWS: MERGERS, ACQUISITIONS, IPOs and FINANCINGS
Surging bullion prices sparking generalist investor interest, unlikely to ignite new M&A activity: Surging bullion prices might not stimulate blockbuster dealmaking, but there are signs generalist investors are wading back into gold stocks after a protracted period of shunning the sector. Story (Niall McGee)
SNC-Lavalin moving ahead with sale of Highway 407 stake to CPPIB after court ruling: SNC-Lavalin says it is moving ahead with a planned sale of a minority stake in Ontario’s Highway 407 toll road to the Canada Pension Plan Investment Board after a judge ruled on a dispute between CPPIB and another 407 shareholder. Shares in SNC-Lavalin shot up 6 per cent to $17.35 in morning trading on Wednesday, reversing a four-day slide. Story (Nicolas Van Praet)
Shareholder activism has a bad image, but it has never been more valuable: Shareholder activism is a loaded concept that often evokes negative emotions and summons images of corporate raiders and barbarians. This perception is seldom challenged. What we rarely read about are entrenched chief executive officers and directors who have forgotten their role as stewards of shareholders’ investments. Opinion (Darcy Morris)
FINANCIAL SERVICES NEWS
Ontario law firm files class action on behalf of Canadians affected by Capital One data breach: A prominent Ontario personal-injury law firm has filed a class action on behalf of Canadians affected by the massive Capital One data breach that was disclosed on July 30. Story (Canadian Press)
Home Capital beats earnings expectations: Home Capital Group Inc. beat expectations as its earnings surged in the second quarter. Story (Canadian Press)
IN CASE YOU MISSED IT
Why Ira Gluskin has a beef with Newton Glassman: Ira Gluskin has been unhappy with Newton Glassman for some time. A few folks on Bay Street have known about it. Mr. Gluskin is believed to have held his tongue about the matter in public settings. That changed earlier this summer, when Mr. Gluskin told an investment conference that he was “an unhappy investor who’s waiting to get my money back” from Mr. Glassman’s funds. That was one of a number of choice comments he made about the situation, bringing the dispute between the two men into the open. Opinion (David Milstead)
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