Duncan HooFred Lum/The Globe and Mail
MOVE OF THE DAY: Canadian investment bank Edgecrest puts itself up for sale
Canadian mining-focused investment bank Edgecrest Capital has put itself on the auction block, hurt by a prolonged downturn in the natural resource sector that has hit fees and activity, according to two sources familiar with the situation. The move comes two years after Toronto-based Edgecrest, which is led by investment banker David Beatty, opened shop. Full story
MERGERS AND ACQUISITIONS
Canadian online coupon startup Checkout 51 bought by News Corp. unit
Checkout 51, a Canadian digital coupon company founded just three years ago, is being bought by a unit of Rupert Murdoch's News Corp. News America Marketing on Friday closed a deal to purchase the Toronto-based startup, which has built a mobile app that provides consumers with a way to use electronic coupons to earn cash back on their grocery purchases. The purchase price was not disclosed. Full story
Johnson Controls plans spinoff of automotive business in 12 months
Milwaukee, Wis.,-based Johnson Controls Inc said on Friday it planned to spin off its $22-billion automotive business in the next 12 months and reported quarterly earnings roughly in line with analysts' expectations. Full story
GDI to Acquire Ainsworth for $20.5-million
Montreal's GDI Integrated Facility Services Inc. has announced plans to acquire Ainsworth Inc., a subsidiary of CEDA International Corporation, for approximately $20.5-million. Ainsworth provides a range of technical services including mechanical maintenance, HVACR, electrical, cabling for data transport, and high voltage services. Press release
Batero Gold to take over CB Gold
Batero Gold Corp. has offered to acquire all of the outstanding common shares of CB Gold through a takeover bid. The combination of cash and shares offered by Batero values CB shares at $0.05, representing a premium of 44 per cent to the closing price of CB Gold common shares. Press release
INITIAL PUBLIC OFFERINGS
Mobile-payments company Square files confidentially for IPO
Square Inc., the mobile-payments company founded and led by Jack Dorsey, the interim chief executive officer of Twitter Inc., filed confidentially for an initial public offering, people with knowledge of the matter said. Full story
ProNAi Therapeutics Announces Closing of IPO for $158.4-million
Vancouver's ProNAi Therapeutics has closed its initial public offering of 9,315,000 shares at a public offering price of $17 a share. The gross proceeds from the initial public offering were $158.4-million. Press release
PRIVATE EQUITY AND VENTURE CAPITAL
Hepalink Pharmaceutical invests in Calgary's Resverlogix
China's Shenzhen Hepalink Pharmaceutical Co. has acquired 13.2 million units of Calgary's Resverlogix through a private placement at $2.67 per unit, for a total purchase price of $35.4-million. Press release
Vancouver's Procurify Raises Funds From Nexus and Hootsuite Execs
India-based VC firm Nexus Venture Partners, along with Point Nine Capital and the Business Development Bank of Canada, have invested $4-million in Canadian SaaS startup Procurify. Ryan Holmes and Steve Johnson, CEO and chief revenue officer of Hootsuite have also participated in the investment round and have become advisors of the Procurify team. Full story
IN CASE YOU MISSED IT
AT&T, DirecTV complete merger to form biggest pay-TV company in U.S.
The No. 2 U.S. wireless carrier AT&T Inc and the biggest satellite-TV provider DirecTV became the country's largest pay-TV company on Friday, completing their $48.5-billion (U.S.) merger after receiving final regulatory approval. Full story
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