Streetwise newsletter: Lazard lands mining MA banker; RBC not Concerned about Home cool-down


International investment bank Lazard Ltd. landed a veteran Canadian mining deal maker from RBC Dominion Securities Inc. ahead of an anticipated increase in takeover activity from natural resource businesses. (Andrew Willis, readers)

Home prices in the Toronto area slid again in August, however, the top executive at Royal Bank of Canada isn’t concerned about what a market downturn would mean for his bank’s lending company. (Christina Pellegrini, readers)

DEALS AND FINANCINGS

The friendly merger of PotashCorp. And Agrium Inc. is now expected to close several months later than the last target date as a result of concerns raised by regulatory bodies in four nations.

Brookfield Asset Management Inc. is laying the groundwork for the potential sale of one of the world’s only dedicated palladium businesses even as prices for the metal used in car pollution control devices soar. (Bloomberg)

B.C.-based Pacific Insight Electronics Corp. has confirmed the receipt of a written proposal from Shenzhen Kaizhong Precision Technology Co. Ltd. offering to enter into an arrangement agreement to acquire all the corporation’s shares for cash consideration of $24.35 per share, valuing Pacific Insight at $189.5-million on a fully diluted basis. (Personal Capital Journal)

Innoviz Technologies, an Israeli startup construction solid-state lidar technologies for autonomous automobiles, has raised $65-million (U.S.) at a series B round of financing from Delphi Automotive, Magna International, 360 Capital Partners, Glory Ventures, and Naver, amongst others. (Venture Conquer)

WuXi NextCode, which gathers genomic information to sequence and analyze DNA, announced today that it has closed a $240-million (U.S.) round led by Sequoia Capital China. Temasek, 3W Partners, and Jack Ma’s private equity firm, Yunfeng Capital, also participated. (Venture Conquer)

Vancouver-based Vision Critical has acquired Toronto-based Pressly, which enables organizations to collaborate and distribute content more effectively. (Betakit)

WHAT WE’RE READING

Private equity may be beginning to fall out of favor with investors, according to a new Prequin report. (Institutional Investor)

Investors have not had much reason to be happy about Wall Street’s current spate of hyped IPOs, with Blue Apron and Breeze putting in unsatisfactory performances amid aggressive headwinds, dicey financials, and uninspiring expansion plans. Streaming entertainment icon Roku, the manufacturer of these ubiquitous little black smart-TV boxes, is preparing to IPO on the NASDAQ under the symbol ROKU in this environment. But can its success continue and break the charm of high profile IPO letdowns? (Pitchbook)

ELSEWHERE IN FINANCE

Regulatory and tax arbitrage is alive and well in banking–and one Nordic bank is benefiting from (Wall Street Journal, readers)

Volkswagen is actively working on prices to market non-core assets accounting for up to 20 percent of the German carmaker’s annual earnings, The Wall Street Journal quoted its chief executive as saying on Thursday. (Reuters)

Two gourmet hamburger chains are gambling investors are going to get an appetite for their companies’ shares, even as America’s craving for fancy burgers is waning. (Wall Street Journal, readers)

Toys “R” Us Inc. has retained lawyers from Kirkland amp; Ellis LLP to help restructure $400-million in debt due next year, a person familiar with the matter said, the most recent move by the toy series as it struggles with growing online contest. (Wall Street Journal, readers)

Courtesy: The Globe And Mail

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