Maple Leaf Foods holds a 16 percent interest in Canada Packers and the two companies are concluded an evergreen supply agreement. It will also be an anchor customer for Canada Packers who will deliver pork for his prepared meat company.
Michael McCain, executive chairman of both companies, says MAPLE LEAF FOODS and Canada Packers are improving as independent entities, each with a clear investment profile and experienced teams. He says the McCain family and McCain Capital Inc. fully commit to the future of both companies.
TMX Group acquires the American data and analysis provider Verity
TMX Group (TSX: X) says that the Verity, an investment research system, has taken over data and analysis provider. Financial conditions of the agreement were not immediately available.
Verity has two core products. VerityRMS is a research management system, while Veritydata offers improved data sets and insights, mainly focused on public stock of stock.
TMX Datalinx President Michelle Tran says that the addition of Verity strengthens the capacity of the company to serve a growing global customer base.
TMX Group is the operator of the Toronto Stock Exchange and other markets.
Meg Energy says that Glass Lewis offers shareholders that Cenovus offers
Meg Energy Corp. (TSX: MEG) says that a second large independent proxy consultancy has recommended its shareholders a takeover bid for the company by Cenovus Energy Inc. (TSX: CVE). The company says Glass, Lewis & Co. A report has issued in which shareholders are recommended to vote for the cash-and-stock offer of Cenovus via a rival range of Strathcona Resources Ltd.
The report comes after Proxy Advisory Firm Institutional Shareholder Services Inc. Last week said that MEG shareholders should support the Cenovus bid.
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The offer of Cenovus must be approved by a two-thirds majority vote by MEG shareholders, which are expected to be held on October 9. Strathcona (TSX: SCR) has said that it intends to vote the importance of 14.2 percent in meg against the deal.
Cenovus and Meg have side-by-side oil sand properties in Christina Lake, south of Fort McMurray, Alta., While Strathcona also has operations in the region.
Stella-Jones signs deal to buy Brooks Manufacturing for US $ 140 million
Utility Pole Company Stella-Jones Inc. (TSX: SJ) has signed a deal to US-Founded Brooks Manufacturing Co. To buy for US $ 140 million.
Brooks is a maker of treated wood distribution distribution cross arms and transmission -framing components. It was founded in 1915 and has a facility in Bellingham, Wash.
Stella-Jones director Eric Vachon called the acquisition a natural fit. “The addition of Brooks Bolsters Stella-Jones’ Suite of Solutions, improving his ability to meet the growing demand for utilities and to unlock new growth opportunities,” Vachon said in a statement on Tuesday. “The acquisition reflects our strategic focus and corresponds to our vision to make Stella-Jones a partner of a choice for our infrastructure customers.”
The turnover of Brooks for 2024 was around US $ 84 million.
RBC Capital Markets analyst James McGarragle called the deal a ‘strategically positive move’. “It creates a valuable growth platform for Stella-Jones by diversifying and utilizing its product range from Brooks’s established brand and customer relationships,” McGarragle wrote in a memorandum to customers. “In addition, the acquisition is in accordance with the long-term objectives of Stella-Jones to go beyond traditional product categories and to speed up growth in the infrastructure segment, so that the company is placed to take advantage of continuous investments in modernizing utilities.”
The deal is subject to final conditions, including the approval of the US and is expected to take place by the end of the year. The deal for Brooks follows the acquisition earlier this year by Stella-Jones from Locweld Inc., a designer and manufacturer of scheduling transmissi towers and steel poles.
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