GFM Network News

Canada keen to boost ties, seal trade pact with India

Reading Time: 2 minutes Gandhinagar, India | Reuters –– Canada is keen to boost its business ties with India and is moving forward with attempts to seal a trade pact, Canada’s minister of infrastructure and communities told Reuters. “There is an emphasis on signing a trade agreement with India,” Amarjeet Sohi said in an interview Tuesday. “The process was […] Read more

Cara to buy St-Hubert restaurant, food businesses

Reading Time: 3 minutes Reuters — Cara Operations, owner of the Swiss Chalet casual dining chain and Harvey’s burger outlets, said Thursday it will buy St-Hubert BBQ, one of Quebec’s largest casual dining chains, for $537 million to gain a foothold in the province. The deal, expected to close this summer pending regulatory approvals, was cheered by analysts and investors. […] Read more

CP revises hostile bid for Norfolk Southern, again

Reading Time: 2 minutes Reuters — Canadian Pacific Railway slammed railway Norfolk Southern on Wednesday, accusing it of misleading investors even as CP executives rolled out a new bid with increased shareholder protections to acquire the U.S.-based railroad. Executives from Canada’s second-largest railroad said the deal is now in the hands of Norfolk Southern’s shareholders, and urged its board […] Read more

Glencore reported in talks on agriculture assets

Reading Time: 2 minutes Reuters — Glencore is in talks with a Saudi Arabian sovereign wealth fund and China’s state-backed grain trader COFCO, along with Canadian pension funds, to sell a stake in its agricultural assets, sources familiar with the matter told Reuters. Selling assets is one prong of a wider strategy by the Swiss-based trader and miner to […] Read more

CPP buying company’s farmland portfolio in Saskatchewan

Reading Time: 3 minutes The Canada Pension Plan Investment Board (CPPIB) said Thursday it had agreed to acquire the assets of Assiniboia Farmland, a fund that owns and manages a large portfolio of farmland in Saskatchewan, for about $128 million. CPPIB, one of Canada’s top pension fund managers with more than $192.8 billion in assets under management, said Regina-based […] Read more

Maple Leaf Foods explores sale Of Canada Bread stake

Reading Time: 2 minutes Maple Leaf Foods said on Monday it may sell its controlling stake in Canada Bread Company as it determines whether to exit the bakery business and focus on meat products. Toronto-based Maple Leaf said it has recently completed a comprehensive review of opportunities to accelerate profitable growth across its bakery business. But before committing resources, […] Read more

Strike looms as talks between union, CN break down

Reading Time: 2 minutes Talks between the railroad workers’ union and Canadian National Railway have broken down, raising the possibility of a strike or a lockout by Oct. 28 at the country’s largest railroad operator, the union said Monday. The Teamsters Canada Rail Conference (TCRC), which represents some 3,300 conductors, trainmen, yardmen and traffic co-ordinators, said the company rejected […] Read more

Proxy fight brewing for Agrium board

Reading Time: 3 minutes The drawn out battle between Agrium and its largest shareholder Jana Partners looked set for a bruising proxy battle on Tuesday, a day after the activist hedge fund rejected Agrium’s call for a truce. The fertilizer maker and farm products retailer threw down the gauntlet late on Monday by nominating David Everitt and Mayo Schmidt […] Read more

Agrium pressured for change in proxy battle

Reading Time: 3 minutes Hedge fund Jana Partners on Monday escalated its effort to overhaul fertilizer and ag retail giant Agrium, by nominating a slate of board candidates to buttress its demand that the fertilizer company split up its wholesale and retail divisions. New York-based Jana, Agrium’s largest shareholder, has been pressuring the fertilizer maker and farm products retailer […] Read more