There weren't many deals Thursday, but the ones that did pop were ere pretty big. Here's a look at the deals of the day in the Canadian market.
Thompson Creek to buy Terrane
Thompson Creek Metals Co. wants to move beyond molybdenum, cutting a $650-million deal to buy Terrane Metals Corp. to gain access to copper and gold assets. Thompson Creek is offering a 35 per cent premium for Terrane. Here's the Canadian Press story, via the Globe and Mail.
The scoresheet for deal advisers:
-RBC Capital Markets advised Thompson Creek on the financing side.
-Goodmans LLP was Canadian legal counsel.
-National Bank Financial was the financial adviser for Terrane.
-Lang Michener LLP gave Terrane legal advice.
-Scotia Capital is financial advisor to the special committee of Terrane directors.
-Fraser Milner Casgrain LLP provided legal advice to the special committee.
Intoll closes below CPPIB's bid price
Canada Pension Plan Investment Board has been called cheap in the Australian media for offering $1.535 per share of toll road operator Intoll, but Intoll shares closed below that price in Sydney trading, suggesting shareholders aren't expecting a higher bid. Goldman Sachs is advising CPPIB.
Smart Technologies advances (a bit) in debut
Smart Technologies of Calgary raised $660-million (U.S.) in the biggest Canadian tech IPO in years, and while the reception wasn't wild, the stock eked out a gain on the first day of trading.
Smart rose 5 cents from its IPO price to finish at $17.05 in U.S. trading, and closed at $17.80 on the Toronto Stock Exchange. Here's the story from the Globe and Mail's Simon Avery.
For those keeping track, RBC Dominion Securities was the top Canadian bank in the deal.
Scotia sells covered bonds
Bank of Nova Scotia sold $2.5-billion (U.S.) of covered bonds. The bonds have a three year term. Covered bonds are a type of financing that's migrated to Canada, wherein a bank sells bonds backed by mortgages that it holds on its balance sheet. They've become popular as Canadian banks look to diversify their funding.