TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,270.65, up 37.57 points.)
Bombardier Inc. (TSX:BBD.B). Industrials. Up three cents, or 2.08 per cent, to $1.47 on 12.9 million shares.
TC Energy Corp. (TSX:TRP). Energy. Up seven cents, or 0.11 per cent, to $62.43 on 9.8 million shares.
The Toronto-Dominion Bank. (TSX:TD). Financials. Down 35 cents, or 0.41 per cent, to $84.70 on nine million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down 18 cents, or 0.63 per cent, to $28.37 on 6.4 million shares.
Canadian Natural Resources (TSX:CNQ). Energy. Up one cent, or 0.02 per cent, to $44.26 on 5.1 million shares.
Organigram Holdings Inc. (TSX:OGI). Health care. Up 40 cents, or 12.2 per cent, to $3.68 on 4.9 million shares.
Companies in the news:
Great-West Lifeco Inc. (TSX:GWO). Up 15 cents to $37.18. The Canada Life Assurance Co. has signed a deal to buy ClaimSecure Inc., a company that provides health and dental claim management services to Canadian employers. Canada Life says the acquisition grows its role as a third-party payer and third-party administrator, which provide a variety of services for employers that offer benefits. Canada Life executive vice-president Brad Fedorchuk said the company isn't disclosing financial terms of the transaction but he said it offers potential for growth. ClaimSecure's customers are about 7,000 employers providing benefits for about 1.125 million Canadians, including 400,000 employees plus their dependants. ClaimSecure has more than 300 employees, who will remain at its main operations centre in Sudbury, Ont., and its head office in Mississauga, Ont., Fedorchuk said. CIBC World Markets analyst Paul Holden said in a research note that the value of the ClaimSecure investment is probably less than a $340-million deal also announced Tuesday by Great-West Lifeco Inc., Canada Life's parent. Great-West said its Irish Life Group has an agreement to pay 230 million euros to buy Ark Life Assurance Co., which manages a range of pensions, savings and protection policies for the Irish market.
Organigram Holdings Inc. (TSX:OGI). Up 40 cents or 12.2 per cent to $3.68. Organigram Holdings Inc. reported a loss of $4 million in its latest quarter compared with a loss of $89.9 million in the same quarter a year earlier. The cannabis producer says the loss amounted to 1.4 cents per diluted share for the quarter ended May 31 compared with a loss of 51.2 cents per diluted share a year earlier when it had fewer shares outstanding. Organigram said the improvement compared with a year ago was due to higher margins and the large one-time impairment charge it took last year. Net revenue in what was the company's third quarter grew to $20.3 million, up from $18 million in the same quarter last year. In its outlook, Organigram said it expects revenue in its fourth quarter to be higher than the third quarter due to stronger forecasted market growth as COVID-19 restrictions lift and as the number of retail stores continues to grow. The company also said it expects to generate a new and incremental revenue stream from the first sales of soft chews.
Inter Pipeline Ltd. (TSX:IPL). Up 17 cents to $20.40. Brookfield Infrastructure Partners LP has extended the deadline of its hostile takeover offer for Inter Pipeline Ltd. to Aug. 6. The offer, which was to expire today, is conditional on Inter Pipeline's friendly deal to be acquired by Pembina Pipeline Corp. not being approved at a shareholder meeting on July 29. The move follows an Alberta Securities Commission ruling in favour of Inter Pipeline and Pembina that was critical of the tactics used by Brookfield Infrastructure in the takeover fight. The securities regulator upheld a $350-million break fee associated with the Inter Pipeline-Pembina deal that Brookfield had sought to have cancelled. It said Brookfield Infrastructure used "abusive" tactics in its attempt to buy Inter Pipeline and ordered the company to provide additional disclosure related to total return swaps it holds that give it economic exposure to Inter Pipeline's shares. The regulator also raised the minimum tender conditions of the Brookfield Infrastructure offer to 55 per cent from a simple majority of the shares tendered by shareholders other than Brookfield and those acting in concert with it.
This report by The Canadian Press was first published July 13, 2021.
The Canadian Press
