Canadian bank headquarters stand on Bay Street in Toronto.Brent Lewin/Bloomberg
Hudson's Bay Co. says new documentation from Austria-based Signa Holding GmbH outlining the financing it has at its disposal for a $4.5-billion bid for its German department-store chain Galeria Kaufhof does not change its view that the approach is unsolicited and offers no formal commitment. Story (Jeffrey Jones, subscribers)
The Canada Infrastructure Bank's inaugural chair said the organization's structure is taking shape and stressed that it will seek out deals with the private sector that might not otherwise get done. Story (Jacqueline Nelson, subscribers)
DAILY DEALS
Brookfield Asset Management Inc. has held preliminary discussions with GGP Inc. about acquiring the stake in the mall owner that it doesn't already own and taking the company private, according to a person familiar with the matter. Story
Canadian fertilizer producer and farm supplier Agrium Inc. said on Tuesday it will sell its Idaho phosphate production facility for $100-million to fertilizer company Itafos, to address concerns of U.S. regulators about its merger with Potash Corp of Saskatchewan. Story
Canada's Whitecap Resources Inc and at least three other companies have submitted final-round bids for Cenovus Energy Inc.'s Weyburn oil facility in a deal that could fetch about C$1-billion ($782-million), people familiar with the situation said on Tuesday. Story
Canadian miner Centerra Gold Inc. said on Tuesday it would buy smaller rival AuRico Metals Inc. in a deal valued at $310-million. Story
William Ackman suffered a stinging rebuke Tuesday, as the activist hedge fund manager lost an acrimonious fight to win seats on the payroll company's board. It was the latest in a string of public defeats for Ackman, who raised $500-million from investors to take a stake in ADP. Story
ELSEWHERE IN FINANCIAL SERVICES
All major Gulf stock markets slid on Tuesday on jitters about Saudi Arabia's sweeping anti-graft purge, a campaign seen by critics as a populist power grab but by ordinary Saudis as an overdue attack on the sleaze of a moneyed ultra-elite. Story
Goldman Sachs Group Inc. has been hiring aggressively to combat its dramatic slump in trading revenue. Bloomberg Gadfly
CME Group Inc. plans to rein in bitcoin's notorious volatility with limits similar to those on other futures contracts. The Wall Street Journal (subscriber)