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Will Archbishop of Canterbury's residential school apology include any of Church of England's $13B in assets? - CBC.ca May 2nd
Will Archbishop of Canterbury's residential school apology include any of Church of England's $13B in assets? CBC.caResidential school survivor says weight "lifted" after Anglican church apology Global NewsArchbishop of Canterbury addresses reconciliation during service in Sask.... More »
HISAs vs. bonds and GICs: Where should Canadians hold their cash? + MORE Jan 9th
“Bonds are back,” you may have read on a financial news site or heard a financial advisor say recently. True enough, money is flowing into these fixed-income investments at the highest rate in years, and for good reasons.
In fact, Canadian savers have an abundance of good choices right now f.... More »
Overcharged CIBC investment clients to get $73M in compensation + MORE Oct 28th
CIBC investment dealers will pay more than $73 million to compensate clients who were inadvertantly overcharged fees, Ontario's securities regulator says..... More »
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P O R T F O L I O F I X
THE PROBLEM
James and Claudia Williams are in an envious position. The’ve paid off their home, they’re debt free and they have healthy savings in RRSPs, TFSAs, and other accounts. They’ve also just welcomed their first child and are already talking abo.... More »
Vice Media CEO Shane Smith on how to turn your company into a cult + MORE Oct 6th
Vice Media CEO Shane Smith. “We’re sort of Maoist.” (Brian Ach/Getty/TechCrunch)
“We’re not afraid to give young people real jobs. At Vice, we give interns big jobs—throw them off the diving board to see if they can swim, so to speak. We’re sort of Maoist, in that we feel everyone has.... More »
Engineering company Aecom to buy URS for $4 billion
– canadianbusiness.com
LOS ANGELES, Calif. – Engineering design company Aecom Technology Corp. said Sunday it is buying URS Corp. for $4 billion in cash and stock, or about $56.31 per URS share.
The price is 8 per cent above URS’s closing stock price of $52.02 on Friday, but 19 per cent above the average price for the last 30 days. Shares spiked and retreated on Friday on a report that URS was looking to sell.
The California-based companies said the combination was necessary to building an integrated infrastructure services company that can operate globally and provide services including design, financing, construction and operation of buildings. The combined firm will be headquartered in Los Angeles.
The companies had worked together on projects such as the Barclays Center in Brooklyn and the World Trade Center in New York.
Aecom CEO Michael Burke said the deal will give Aecom a broader portfolio of services and access to URS’ strong client relationships in the oil and gas, power and government services sectors…
The price is 8 per cent above URS’s closing stock price of $52.02 on Friday, but 19 per cent above the average price for the last 30 days. Shares spiked and retreated on Friday on a report that URS was looking to sell.
The California-based companies said the combination was necessary to building an integrated infrastructure services company that can operate globally and provide services including design, financing, construction and operation of buildings. The combined firm will be headquartered in Los Angeles.
The companies had worked together on projects such as the Barclays Center in Brooklyn and the World Trade Center in New York.
Aecom CEO Michael Burke said the deal will give Aecom a broader portfolio of services and access to URS’ strong client relationships in the oil and gas, power and government services sectors…
Whiting to become No. 1 Bakken region producer in deal to buy Kodiak for $6 billion in stock
– canadianbusiness.com
DENVER – Whiting Petroleum Corp. said Sunday it is buying Kodiak Oil & Gas Corp. for $6 billion in stock, worth $13.90 per share, in a deal that will make it the largest producer in the booming Bakken region of North Dakota and Montana.
The combined company had over 107,000 barrels of oil equivalent production per day in the first quarter.
The merger is meant to take advantage of cost savings through technological expertise, complementary drilling areas and better access to capital. It also gives it a stronger credit profile.
Whiting CEO James Volker said both companies’ shareholders will benefit from the combination. Next year, the company is expected to produce 152,000 barrels of oil equivalent per day, he said.
The deal will increase earnings per share starting in 2015.
Kodiak shareholders will get 0.177 shares of Whiting stock for every share they hold. The value is about 5 per cent above the average price over the last 60 trading days. After the transaction, Whiting shareholders will own about 71 per cent of the company, while Kodiak shareholders will own about 29 per cent…
The combined company had over 107,000 barrels of oil equivalent production per day in the first quarter.
The merger is meant to take advantage of cost savings through technological expertise, complementary drilling areas and better access to capital. It also gives it a stronger credit profile.
Whiting CEO James Volker said both companies’ shareholders will benefit from the combination. Next year, the company is expected to produce 152,000 barrels of oil equivalent per day, he said.
The deal will increase earnings per share starting in 2015.
Kodiak shareholders will get 0.177 shares of Whiting stock for every share they hold. The value is about 5 per cent above the average price over the last 60 trading days. After the transaction, Whiting shareholders will own about 71 per cent of the company, while Kodiak shareholders will own about 29 per cent…
