TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (19,142.72, down 188.09 points.)
Suncor Energy Inc. (TSX:SU). Energy. Down $1.58, or 3.72 per cent, to $40.91 on 13.8 million shares.
Enbridge Inc. (TSX:ENB). Energy. Down 27 cents, or 0.50 per cent, to $53.89 on 11.4 million shares.
Barrick Gold Corp. (TSX:ABX). Materials. Down 35 cents, or 1.80 per cent, to $19.15 on 10.7 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Down 57 cents, or 2.31 per cent, to $24.07 on eight million shares.
Bank of Nova Scotia (TSX:BNS). Financials. Down $1.24, or 1.71 per cent, to $71.38 on 5.7 million shares.
Toronto-Dominion Bank (TSX:TD). Financials. Up two cents, or 0.02 per cent, to $84.51 on 5.1 million shares.
Companies in the news:
Turquoise Hill Resources Ltd. (TSX:TRQ). Up $5.04, or 13.95 per cent, to $41.16. Turquoise Hill Resources Ltd. has accepted a sweetened offer by Rio Tinto International Holdings Ltd. for the stake in the company that it does not already own valued at about $4.2 billion. Under the new proposal, Rio Tinto will pay $43 per share in cash for the 49 per cent stake it does not already hold in the company. The offer is up from $40 per share Rio Tinto offered last week and higher than the company's earlier bid of $34 per share rejected by Turquoise Hill. Turquoise Hill owns a 66 per cent stake in the Oyu Tolgoi copper and gold mine in Mongolia. Erdenes Oyu Tolgoi LLC, a Mongolian state-owned entity, holds the remaining 34 per cent interest. The deal requires approval by a two-thirds majority vote by Turquoise Hill shareholders, including Rio Tinto, and the approval of a simple majority of the votes cast by the company's minority shareholders. Rio Tinto has said previously that the deal would simplify the ownership structure of the mine and strengthen its copper portfolio.
Recipe Unlimited Corp. (TSX:RECP). Up 84 cents, or 4.27 per cent, to $20.51. Fairfax Financial Holdings Ltd. has signed a definitive agreement to take Recipe Unlimited Corp., the company behind Swiss Chalet, Harvey's, St-Hubert and the Keg, private. The deal for $20.73 per share in cash values Recipe Unlimited at about $1.2 billion. Fairfax, which first announced its offer in August, is already the controlling shareholder of the company. Stephen Gunn, the chair of Recipe Unlimited's special committee reviewing the proposal, says it offers an attractive premium and immediate liquidity to shareholders while providing the company with additional flexibility to operate as a private company. Recipe Unlimited's brands also include Montana's, Kelseys, East Side Mario's, New York Fries, Bier Markt and others.
This report by The Canadian Press was first published Sept. 1, 2022.
The Canadian Press
