WestJet being sold to Onex Corporation in $5 billion deal

Onex and its affiliated funds will acquire all outstanding shares of WestJet for $31 per share

WestJet being sold to Onex Corporation in $5 billion dealCalgary-based WestJet Airlines is being sold to Onex Corporation in a deal that is worth about $5 billion including assumed debt. The sale is subject to shareholder approval. In a news release on Monday, it was announced that in the all-cash transaction Onex and its affiliated funds will acquire all outstanding shares of WestJet for…

CN acquires Alberta-based H&R Transport

Strategy is to offer more end-to-end rail supply chain solutions to a wider range of customers

CN acquires Alberta-based H&R TransportCanadian National Railway, through a subsidiary company, has reached an agreement to acquire the intermodal division of the Alberta-based H&R Transport Limited, it announced on Thursday. “H&R is well known in Alberta and across the industry for investing in its people, systems, and assets, as well as its customer centric services and best in class…

WestJet’s net earnings up 33% in first quarter

Board of directors declares cash dividend of 14 cents per common voting share

WestJet’s net earnings up 33% in first quarterCalgary-based WestJet reported on Tuesday that its first quarter net earnings of $45.6 million, or 40 cents per fully diluted share, rose by 33.4 per cent. That compared with net earnings of $34.2 million, or 30 cents per fully diluted share, in the first quarter of 2018. The airline’s revenue also was up 5.5 per…

Entrepreneurs buying other businesses to grow, says new report

Increasing number of businesses for sale as entrepreneurs get older, days BDC report

Entrepreneurs buying other businesses to grow, says new reportEntrepreneurs who acquire other businesses do so to grow, says a report released on Tuesday by the Business Development Bank of Canada (BDC). And Pierre Cléroux, vice-president of research and chief economist at BDC, said the issue has become important because of the increasing number of businesses for sale as entrepreneurs get older. “For many…

Canadian direct investment abroad balloons in 2018

StatsCan says the stock of foreign direct investment in Canada rose by 5% in 2018 to $877 billion

Canadian direct investment abroad balloons in 2018The stock of Canadian direct investment abroad grew at a faster rate in 2018, largely as a result of valuation gains from a weaker Canadian dollar, according to Statistics Canada. The growth in the stock of foreign direct investment in Canada also picked up pace at five per cent when compared with the two previous…

Modular home maker aims to be world beater

The resource price crash of 2014 forced Horizon North to turn its old business model on its head

Modular home maker aims to be world beaterA high-end home built by an oil-and-gas logistics company? Now, that’s disruptive technology at work. Disruption is a way of life now for Horizon North, a company that has had to be exceptionally nimble after the resource price crash of 2014 turned its old business model on its head. Created as a spinoff from Mullen…

Canada is squandering its intangible future

The digital economy is underpinned by a new class of non-physical assets. Why aren’t we investing in them?

Canada is squandering its intangible futureCanada is in danger of becoming a tenant nation, according to a recent Public Policy Forum report written by Sean Speer and Robert Asselin. Speer and Asselin describe a post-industrial Canada falling into a modern form of dependency where, although we generate world-class innovation, we lack essential infrastructure and/or skills to commercialize it. We’re simply…

Shaw Communications reports $155M net income in Q2

Shaw Communications reports $155M net income in Q2Calgary-based Shaw Communications reported Tuesday net income of $155 million for its second quarter of operations in its fiscal year 2019 compared with a net loss of $175 million a year ago. The company’s quarter ended February 28, 2019. It said consolidated revenue decreased by one per cent to $1.32 billion compared to the second…

The hard knocks of opportunity

If we invested in every opportunity that was presented to us, chances are we would be broke

The hard knocks of opportunityYou’ve probably never heard of Ron Wayne, but had he not sold his 10 per cent share in Apple Computer shortly after it launched, ultimately for US$2,300, he might now be as famous as partners Steve Jobs and Steve Wozniak. He could now be worth $40 billion. But he isn’t. Joe Green was Mark Zuckerberg’s…

BDC Capital investing in change-of-ownership transactions

BDC Capital has invested over $180 million in change-of-ownership transactions since December 2017

BDC Capital investing in change-of-ownership transactionsBDC Capital, the investment arm of BDC (Business Development Bank of Canada), has invested over $180 million in change-of-ownership transactions since December 2017 and is on track with its pledge to invest $900 million in such deals over five years. "Investing in business transitions is one of our core offerings," said Patrick Latour, Senior Vice…

Natural resources GDP declines in fourth quarter of 2018

Energy prices recorded their largest decline since the first quarter of 2016, following four consecutive quarterly increases

Natural resources GDP declines in fourth quarter of 2018Real gross domestic product of the natural resources sector decreased by 0.4 per cent in the fourth quarter, following a 0.8 per cent increase in the third quarter, according to a report released on Tuesday by Statistics Canada. The federal agency said real GDP in the energy subsector declined 0.3 per cent in the fourth…

Cannabis represents once-in-a-generation opportunity

Bruce Leslie talks about why the industry has such explosive potential and why Westleaf is uniquely poised to take advantage

Cannabis represents once-in-a-generation opportunityBruce Leslie is vice-president of corporate communications for Westleaf Inc. Tell me about your background and why you joined Westleaf? Leslie: I’m a bit of a hybrid as I spent a portion of my career as a journalist and then transitioned over to corporate communications and corporate affairs, and then into business development. So over…

Golden executive payoffs hurt shareholders and economy

Too many Canadian companies have bad managers and boards who rarely face the ramifications of their poor decisions

Golden executive payoffs hurt shareholders and economyThe Goldcorp Inc. merger with Newmont Mining Corp. has many people bemoaning the loss of yet another large, independent Canadian company to an opportunistic acquirer. With the consequent loss of many Goldcorp executive and other head office jobs, the real tragedy is that too many Canadian companies have aimless, dysfunctional, or outright bad managers who…

Fire & Flower launches online cannabis sales

Edmonton-based retailer has e-commerce licence in Saskatchewan and is poised for growth elsewhere

Fire & Flower launches online cannabis salesYou can now order in your pizza and your pot – if you live in Saskatchewan. Fire & Flower Holdings Corp. on Monday launched an e-commerce platform to sell adult-use recreational cannabis to customers in Saskatchewan, and accessory products to the rest of the country. The online ordering service is available from the Edmonton-based retailer’s…
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