Duncan HoodFred Lum/The Globe and Mail
Big day for deals today: Potash makes a $10-billion play for Germany's K+S fertilizer, RBC is close to spinning off a Swiss bank and what's this? A new SPAC (special purpose acquisition corporation) headed by Anthony Melman, chaired by Belinda Stronach, and backed by Calin Rovinescu, Hunter Harrison, Rick Waugh and Geoff Beattie is launching an IPO to raise $275-million. I'd say it's a done deal.
DEAL OF THE DAY: Potash Corp. makes an offer for Germany's K+S fertilizer
Potash Corp. of Saskatchewan Inc. has made a bid for Germany's K+S AG fertilizer company, the European-based miner said. K+S, which is building a big potash mine in Saskatchewan, said Potash submitted a proposal to acquire all of its shares, in a deal that reportedly could be worth $9.7 billion. Full story
MERGERS AND ACQUISITIONS
RBC said to be in advanced talks to sell Swiss unit to Banque Syz
Royal Bank of Canada is in advanced talks to sell its Swiss private bank to Banque Syz SA, according to two people familiar with the matter. The Geneva-based business has about 10 billion Swiss francs ($10.6-billion) of client assets under management and a final deal hasn't been signed, said one of the people, who asked not to be identified. Full story
Aetna said to be closing in on acquisition of Humana
Aetna Inc., the second-largest U.S. health insurer by market value, is closing in on an acquisition of Humana Inc. and could reach a deal as early as this weekend, several people with knowledge of the matter said. Full story
Zoetis shares surge after report of takeover approach by Valeant
Shares of Zoetis Inc. surged to their highest price ever after a report that the animal health company had been approached about a takeover by Valeant Pharmaceuticals International Inc. Full story
INITIAL PUBLIC OFFERINGS
Acasta Enterprises set to raise $275-million in IPO
Acasta Enterprises Inc. plans to raise $275-million through an initial public offering, joining a line of special purpose acquisition corporations (SPACs) with high-profile backers raising public capital to pursue acquisitions. Toronto-based Acasta, which is targeting an acquisition in North America, plans to sell some 27.5 million units at $10 a unit to list on the Toronto Stock Exchange, the company said late Wednesday. Acasta is headed by Anthony Melman, former partner and managing director of Onex Corp., and chaired by Belinda Stronach, head of the Stronach Group. Full story
Operator of Match.com and Tinder to be spun off in IPO
Match.com and Tinder are looking for a Wall Street hookup as their parent group prepares to establish them as a separate, publicly traded company. IAC/InteractiveCorp, which is controlled by billionaire Barry Diller, has approved a proposal for an initial public offering. Full story
Mogo Finance under pressure in trading debut
Mogo Finance Technology Inc. is under pressure in its stock exchange debut in Canada. Its shares are currently down over 5 per cent. The Vancouver-based online lender is a rare disappointment in a heady Canadian initial public offering market in 2015. Full story
PRIVATE EQUITY AND VENTURE CAPITAL
Crown Capital Partners seeks to raise $400-million from IPO and partnership
Specialty finance firm Crown Capital Partners has launched a process for raising funds via an IPO and a fourth partnership that could give it unprecedented investment resources. Full story
Rho Canada Ventures takes part in $4.5-million venture financing of Tesora
Cambridge, Mass.-based software company Tesora has just closed $4.5-million in venture financing. This round includes new investors, Rho Canada Ventures, along with existing investors General Catalyst Partners, CommonAngels Ventures, Point Judith Capital and angel investors. Press release
ANALYSIS AND INSIGHT
Calpers's Disclosure on Fees Brings Surprise, and Scrutiny
Earlier this year, a senior executive of the California Public Employees' Retirement System, the country's biggest state pension fund, made a surprising statement: The fund did not know what it was paying some of its Wall Street managers. Full story
IN CASE YOU MISSED IT
Mobilicity deal positions Wind to compete with wireless Big Three
Startup wireless carrier Wind Mobile Corp. has emerged as a key winner in a deal between Rogers Communications Inc. and Mobilicity that awards Wind the cellular airwaves it needs to expand and improve its network at no cost. Full story
Know of any upcoming deals we should cover? Have suggestions for making the Daily Deal Roundup more useful? Email me at deals@globeandmail.com. I'll respond personally to every email.