Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
DH Corp. (DH-T) has agreed to be bought by Vista Equity Partners for $25.50 per share in cash and the deal includes debt. The deal has a total enterprise value of $4.8-billion, the company said.
The stock closed at $23.04 on Friday. The transaction price represents a premium of approximately 36 per cent over DH's closing share price on Dec. 5, the last trading day before media reports surfaced suggesting the company was exploring strategic alternatives, the company said.
It said Vista intends to combine D+H with another of its portfolio companies, Misys, a global software provider.
"After a comprehensive review of strategic alternatives, the special committee of independent directors and our board have unanimously concluded that this agreement is in the best interests of the company and our stakeholders," stated chairman Paul Damp. "We are pleased that this transaction appropriately recognizes the value of D+H's market-leading suite of mission-critical FinTech solutions, which are trusted by thousands of financial institutions, governments and corporations."
Canopy Growth Corp. (WEED-T) it was added to the S&P/TSX Composite Index following a quarterly review by S&P Dow Jones Indices. The change will be effective after the close of trading on March 17.
"Being added to the index is an important accomplishment and a reflection of the work we've done to put Canopy Growth top of mind in the investment community," stated CEO Bruce Linton in a release.
A&W Food Services of Canada Inc. (AW.UN-T) said it has committed to the adoption of "even higher animal welfare standards" for farm-raised broiler chickens.
New requirements include the introduction of "physical enhancements that best allow for natural bird behaviour, while preserving an antibiotic-free environment," as a well as ensuring a minimum of six hours of darkness in the barn "so chickens can rest better at night."
It will also start to ensure all farmers maintain barn density levels that meet or exceed global standards.
"We want to continuously raise the bar in animal welfare to ensure animals are treated with respect. Today, we have elevated our standards to include some new ones. It all adds up to a better life," says A&W Canada president Susan Senecal in a release.
Nobilis Health Corp. (HLTH-N) reported fourth-quarter revenue of $101.9 million (U.S.), a 13-per-cent increase over the prior year.
Net income was $9.4-million or 12 cents per share, compared to prior-year quarter net income of $44.7-million or 58 cents.
Adjusted EBITDA came in at $20.8-million, compared to prior-year quarter Adjusted EBITDA of $23.7-million.
Analysts were expecting revenue of $99-million.
Aralez Pharmaceuticals Inc. (ARLZ-T; ARZ-T) reported fourth-quarter revenue of $20-million (U.S.) compared to $6-million for the three months ended December 31, 2015.
Its net loss was $31.1-million, or 48 cents per share, compared to a net loss of $13.3 million, or 40 cents for the three months ended December 31, 2015.
Trinidad Drilling Ltd. (TDG-T) said CEO Lyle Whitmarsh has left the company "to pursue other interests."
The company said president Brent Conway will take on the additional CEO role.
Merus Labs International Inc. (MSL-T; MSLI-Q) says its board of directors approved minor amendments to its stock option plan to address issues raised by Institutional Shareholder Services (ISS).
The amendments include adding an annual limit for grants of options to each non-employee director, among other changes.
"The changes to the Plan address what the company understands were the 'overriding factors' that resulted in ISS issuing a negative recommendation on approval of the continuation of the plan," the company said.
It said the amendments to the plan "are not expected to substantively impact on the Company's compensation practices moving forward."
It said the amendments also address certain "housekeeping" changes requested by the TSX.