Good morning. Here are the top reads of the week from Streetwise. Enjoy your weekend.
Former Dynamic Funds mind Jordy Chilcott has joined the executive team at Sun Life Global Investments. (Clare O’Hara, for readers)
It is easy to fault Maple Leaf Sports amp; Entertainment for failing to win a championship in the Organization’s flagship Toronto possessions, the NHL’s Maple Leafs and the NBA’s Raptors. It is impossible to fault MLSE for its capacity to make a first-class fan experience, and its ability to separate that enthusiast from every available dollar. On MLSE’s view, the racks are always full and broadcasts are ratings winners. That business acumen explains why MLSE ended up acquiring a second Toronto group on Wednesday by buying the CFL’s Toronto Argonauts. (Andrew Willis, for readers)
The mouse is roaring. Walt Disney Co.’s blockbuster $52.4-billion (U.S.) deal to buy most of Rupert Murdoch’s Twenty-First Century Fox, announced on Thursday, takes aim in an exploding direct-to-consumer content market that is dominated by Netflix and contested by the likes of Apple and Amazon.com. (Jeffrey Jones, for readers)
Canada Pension Plan Investment Board is developing a renewable-energy and electricity group, jump-starting its investment plan with a deal for Brazilian wind resources. (Jacqueline Nelson, for readers)
Ontario’s securities watchdog is seeking to mirror a U.S. ban against Miles Nadal, former CEO of MDC Partners Inc.. (Alexandra Posadzki)
Auto-parts maker Linamar Corp. says it’ll acquire an agricultural equipment manufacturer for $1.2-billion, a deal that means a significant expansion because of its existing agricultural enterprise. (Greg Keenan)
Financial-services giant Goldman Sachs Group Inc. is boosting its investment in Toronto-based fintech startup Financeit with an undisclosed sum, injecting cash that will permit the point-of-sale financing provider to produce a new acquisition and expand in america. (Alexandra Posadzki, for readers)
How badly does CIBC want to fix its Caribbean problem? (Tim Kiladze, for readers)
Canadian Imperial Bank of Commerce has an ambitious goal to nearly double the share of its profits coming from its U.S. banking arm over three decades. (James Bradshaw, for readers)
Fidelity Canada is opening a trading desk in Toronto so as to gain competitive advantages in the market including nearer proximity to the prices on Bay Street. (Clare O’Hara, for readers)
Canadian Imperial Bank of Commerce is considering listing its Caribbean banking subsidiary on U.S. stock markets, seeking options to redeploy resources from a region that’s been called a risky place to work. (James Bradshaw)
Stanley Ma’s MTY Food Group Inc. is creating a friendly bid to acquire Imvescor Restaurant Group Inc. for $248-million in cash and stock, a transaction aimed at diversifying the company by boosting the amount of casual sit-down restaurants in its stable. (Jeffrey Jones)
Credential Financial Inc., Qtrade Canada Inc. and NEI Investments have joined forces to establish a new independent wealth management company in Canada that will have the ability to compete more aggressively with a number of Canada’s largest financial companies, including the Big Five banks. (Clare O’Hara)
The chief executive officer of CanniMed Therapeutics Inc. says two supervisors launched a covert campaign to market the medical cannabis manufacturer after they and the rest of the board agreed to engage in a deal that would place it for the recreational marijuana marketplace. (Jeffrey Jones and Christina Pellegrini, for readers)
Richard Carleton can not help but laugh when he is asked: “In 2014, how much did you know about marijuana?” The question is not about eating, but it still catches him off guard. An attorney by training, Mr. Carleton, 57, has spent years building a career in the financial exchange industry. Today, he conducts the Canadian Securities Exchange (CSE), a stock exchange for early-stage businesses. (Christina Pellegrini, for readers)
FRIDAY Offer AND FINANCIAL SERVICES WRAP
BP will purchase a 43-per-cent bet in solar energy firm Lightsource for $200-million (U.S.), the British petroleum producer said on Friday, marking its return to the solar industry.
Unilever has agreed to sell its margarine and spreads company to U.S. private equity firm KKR for $8.04-billion (U.S.) to focus on faster growing products.
The U.S. Department of Justice and ATamp;T Inc have held ineffective settlement talks over the radio and pay-TV firm’s bid to buy movie and TV show manufacturer Time Warner Inc., the two sides said in a court filing on Friday.
Wood pellets manufacturer Pinnacle Renewable Energy Inc, owned by Canadian private equity firm Onex Corp, wants to raise roughly $175 million (US$136 million) via a Toronto initial public offering (IPO), people familiar with the matter told Reuters this week.
SoftBank has been in talks to invest up to $300 million (U.S.) from the dog-walking program Wag, according to individuals knowledgeable about the conversations. It is a concrete example of the way SoftBank is altering funding in technology.
Tencent Holdings Ltd. agreed to buy a 5 percent stake in China’s Yonghui Superstores Co. for approximately 4.22 billion yuan ($639 million U.S.), linking rival Alibaba Group Holding Ltd. in teaming up with a bricks-and-mortar retailer.
IN CASE YOU MISSED IT
Eric Rosenfeld, chief executive of Crescendo Partners, has released his latest song and dance movie If you don’t know who Mr. Rosenfeld is, this is a bit
Courtesy: The Globe And Mail