Streetwise newsletter: Torstar, Postmedia strike a Bargain; the backers behind Aurora’s CanniMed Bidding

DAILY DEALS

Canada’s two largest newspaper companies have struck a deal to exchange a total of 37 community papers and four free commuter newspapers — and shutting lots of the newsrooms that once competed in these markets — in a bid to deal with declining advertising revenues and a fighting print media environment. Susan Krashinsky-Robertson

Aurora Cannabis Inc.’s all-stock hostile takeover bid of medical marijuana firm CanniMed Therapeutics gets the backing of a Toronto-based investment director, two Saskatchewan venture capital funds, and an investment fund also based in the prairie province, according to regulatory filings.

Canadian retailer Hudson’s Bay Co on Monday said nearly two-thirds of its shareholders support a $500-million investment by Rhone Capital, which is being opposed by activist fund Property and Buildings LLC.

ELSEWHERE IN FINANCIAL SERVICES

Expectations for fourth-quarter earnings among Canada’s most important banks are small, but even a ho-hum finish would do little to tarnish an excellent year for the Big Six. Bank earnings begin today (Tuesday). James Bradshaw (readers)

WHAT WE’RE READING

According to a recent report from agent Cushman amp; Wakefield, the amount of funds being deployed into commercial property throughout North America is down 9 percent so far this season compared to 2016.

IN CASE YOU MISSED IT

Namaste Technologies is between a rock and a hard place. The Vancouver-based company, which sells vaporizers used by medical-marijuana patients, has not broken any laws. Until recently, it was just another company listed on the Canadian Securities Exchange, minding its own business. Rita Trichur (readers)

Courtesy: The Globe And Mail

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