Here are the top reads on deals and financial services over the last 24 hours,
Transat says Air Canada is ‘preferred buyer’ despite shareholder opposition: Despite major shareholder opposition, Transat A.T. Inc. says Air Canada is the “preferred buyer” of the airline and travel company, casting doubts on the financial ability of former bidder Groupe Mach Inc. to complete a takeover. Story (Eric Atkins)
BC Partners to buy GardaWorld in deal worth $5.2-billion: In one of the biggest private equity acquisitions in Canadian history, U.K.-based BC Partners has snapped up a majority stake in Montreal security giant GardaWorld Corp. in a deal worth $5.2-billion. Story (Alexandra Posadzki)
CannTrust chairman, CEO were informed in November of unlicensed cannabis growing, e-mails show: Both the chairman and the chief executive officer of CannTrust Holdings Inc. were informed that the company was growing cannabis in unlicensed rooms about seven months before Health Canada uncovered the regulatory breach, internal e-mails show. Story (Mark Rendell and Jeffrey Jones)
WestJet shareholders agree to $3.5-billion takeover from Onex: Shareholders of WestJet Airlines Ltd. have voted overwhelmingly in favour of a $3.5-billion takeover by Toronto-based Onex Corp., ending 23 years as an independent airline. Story (Eric Atkins)
Rogers sees strong demand for new ‘unlimited’ wireless plans: Rogers Communications Inc. added fewer new wireless customers than expected in the second quarter but says demand for new wireless plans that have no additional fees for going over monthly data limits has been strong, with many customers willing to pay more for the option. Story (Christine Dobby)
CN Rail revenue jumps on higher crude, grain volumes: Canadian National Railway Co. boosted revenue by 9 per cent in the second quarter, as Canada’s largest railway saw oil and grain volumes rise. Story (Eric Atkins)
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