For the first part of the Great Oil Patch Downturn, deal-makers lamented irreconcilable differences between asset buyers and sellers. There was scant meeting of the minds on the prices for which energy asset sellers would be willing to let their holdings go versus what the market wanted to pay. Story (Jeffrey Jones, subscribers)
A high-profile Toronto startup looking to use artificial intelligence to discover new drugs for genetic disorders has landed a $13-million (U.S.) private financing led by Silicon Valley venture capitalist firm Kholsa Ventures. Story (Sean Silcoff, subscribers)
Bay Street's latest insider-trading scandal points to a confidence-eroding conspiracy that is far larger than the four individuals targeted Friday by Canadian regulators. Story (Andrew Willis, subscribers)
When word got out in July that Hydro One Ltd. had retained Moelis & Co. to advise on its $4.4-billion deal for Spokane, Wash.-based utility Avista Corp., the reaction from many on Bay Street was: Hydro One hired who? Story (Christina Pellegrini and Niall McGee, subscribers)
Cenovus Energy Inc. is selling a southeastern Alberta oil and gas property to a company controlled by the wealthy Swedish-Canadian Lundin family, which is better known for investments in energy and mining projects in developing countries. Story (Jeffrey Jones)
The recent surge in the Canadian dollar against the greenback is prompting Canadian companies to manage their currency risk through hedging programs, providing a boost to some of Canada's largest investment banks. Story (Alexandra Posadzki, subscribers)
MORE DEALS AND FINANCINGS
Vancouver-based Koho has raised an $8-million funding round from Portag3 Ventures. The company raised its first disclosed $1-million funding round in May 2015, and secured funding from Power Financial – the giant behind FinTech-focused Portag3 Ventures – a year later. Betakit
Saudi Finance Minister Mohammed al-Jadaan told bond investors during a presentation on Monday that the initial public offering (IPO) of Saudi state oil giant Aramco will proceed as planned in 2018, sources familiar with the matter told Reuters. Reuters
ZhongAn Online Property & Casualty Insurance Co (6060.HK) priced its IPO at the top of an indicated range, raising $1.5-billion (U.S.) in Hong Kong's biggest ever financial technology stock offering, IFR reported on Friday. Reuters
ELSEWHERE IN FINANCIAL SERVICES
American International Group Inc. said on Monday it would reorganize into three new business units and will no longer have Commercial and Consumer businesses. Story
British lenders need to hold around an extra 10 billion pounds ($16.6-billion Canadian) in capital to guard against increased risks from rapidly rising unsecured consumer lending, the Bank of England said on Monday. Story
Chinese online shopping giant Alibaba Group's online payment platform AliPay will officially launch in Canada through a partnership with Canadian tech firm Snap Pay Inc. Story
Power grids maker ABB is buying General Electric's Industrial Solutions business for $2.6-billion (U.S.) in a bet it can improve the division's lackluster margins over the next five years, the Swiss engineering company said on Monday. Reuters
WHAT WE'RE READING
Symphony Communication Services, the bank-backed messaging startup taking on Bloomberg LP in a key part of its business, is in talks to raise at least $100-million (U.S.) from new investors. The company plans to use the money to finance an expansion into health care, government, insurance and accounting, according to CEO and founder David Gurle. The Information
Casper went to war with a popular mattress reviews site – then financed its takeover Recode
The heady shareholder returns that payroll processor ADP is promoting to fend off activist hedge fund manager Bill Ackman are vastly overstated, Ackman's Pershing Square Capital Management claims in a new analysis. Institutional Investor
Fidelity International Ltd.'s decision on how to handle its research costs to meet new European rules hinges on how the U.S. deals with the regulations. Bloomberg