TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (17,506.48, up 119.08 points.)
Suncor Energy Inc. (TSX:SU). Energy. Down 20 cents, or 0.87 per cent, to $22.88 on 8.7 million shares.
Canadian Natural Resources (TSX:CNQ). Energy. Up 74 cents, or 2.37 per cent, to $32.01 on 8.5 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up 25 cents, or 0.59 per cent, to $42.78 on 8 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Up half a cent, or 1.1 per cent, to 46 cents on 7.3 million shares.
Trevali Mining Corp. (TSX:TV). Materials. Unchanged at 20 cents on 7.2 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Up six cents, or 0.78 per cent, to $7.76 on 6.7 million shares.
Companies in the news:
Cenovus Energy Inc. — Shareholders of two rival energy companies voted in favour of joining forces on Tuesday, clearing the way for Cenovus Energy Inc.'s multi-billion dollar takeover of Husky Energy Inc. The two Calgary-based companies each held special shareholder meetings to vote on the $3.8-billion all-stock buyout. The endorsement by investors of both firms was resounding, with more than 90 per cent of votes cast in favour of the acquisition. The backing of shareholders leaves regulatory approval as the deal's last major hurdle. The surprise transaction, announced in October, is expected to close in the first quarter of 2021.
Transat AT Inc. (TSX:TRZ). Up 93 cents or 17.6 per cent to $6.22. Transat AT Inc.’s shareholders overwhelmingly approved a revised purchase offer from Air Canada despite the disclosure of a late and higher-priced competing bid. The Montreal-based tour operator said that 91 per cent of shareholder votes were in favour of Air Canada's bid of $5 per share, which was recommended by Transat's leadership. Transat disclosed in a press release before the shareholder meeting that in late November it received an unsolicited offer from a private investor outside the air transport and travel industry. The unidentified investor was allowed to conduct due diligence with full access to the company's financials, Transat said. Ultimately, however, Transat's board concluded that the new offer was not better than Air Canada's despite being at a higher price.
Quebecor Inc. (TSX:QBR.B). Down 49 cents or 1.5 per cent to $33.13. Videotron says it is gradually launching its fifth-generation wireless network in Montreal before adding other regions of Quebec. The deployment over the next few years will be done in collaboration with Samsung. The 5G network will allow data to be transmitted up to 20 times faster than its current network. The Quebecor subsidiary says 5G will expand opportunities at work and home while also boosting the competitiveness of companies. South Korean tech giant Samsung is also establishing 5G networks in the United States, Japan and New Zealand and has been added to the list of Telus equipment suppliers.
TC Energy Corp. (TSX:TRP). Up 49 cents to $56.90. TC Energy Corp. says it has signed a deal to buy out the other unitholders of TC PipeLines LP, a U.S. master limited partnership it operates, after raising its earlier offer. Under the sweetened proposal, TCP unitholders will receive 0.7 of a TC Energy share for each unit they hold. TC Energy had offered 0.65 of a share in October. The company says the deal values TC PipeLines at US$1.68 billion. The board of directors of the partnership’s general partner has approved the agreement. The deal is expected to close late in the first quarter or early in the second quarter of 2021 subject to the approval by TCP unitholders and regulatory approvals.
This report by The Canadian Press was first published Dec. 15, 2020.
The Canadian Press
