TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,693.79, up 140.54 points.)
Canadian Natural Resources (TSX:CNQ). Energy. Up $1.35, or 3.13 per cent, to $44.51 on 30.8 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Up $1.20, or 5.09 per cent, to $24.78 on 13.7 million shares.
BCE Inc. (TSX:BCE). Telecommunications. Down 33 cents, or 0.51 per cent, to $64.82 on 12.8 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Up 64 cents, or 5.91 per cent, to $11.47 on 12.7 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Up 11 cents, or 4.15 per cent, to $2.76 on 9.8 million shares.
Tamarack Valley Energy Ltd. (TSX:TVE). Energy. Up 13 cents, or 4.78 per cent, to $2.85 on 8.5 million shares.
Companies in the news:
Canadian National Railway Co. (TSX:CNR). Up $2.06 or 1.4 per cent to $147.79. A protracted battle between rival Canadian railways for the acquisition of Kansas City Southern is over, with Canadian Pacific Railway Ltd. coming out on top. CP Rail said Wednesday it has reached a deal to acquire KCS for approximately US$31 billion, after Canadian National Railway Co. dropped its rival takeover offer for the U.S. railway. The news came after KCS on Sunday ruled the bid by CP Rail was a superior proposal to its deal with CN. CP Rail said the "once-in-a-lifetime partnership" will create the first U.S.-Mexico-Canada rail network. CP Rail has said customers will not experience a reduction in railroad choice as a result of the transaction and has pledged to keep all existing freight rail gateways open on "commercially reasonable terms." Following final regulatory approval expected in the second half of next year, CP chief executive Keith Creel will serve as CEO of the combined company. The combined entity will be named Canadian Pacific Kansas City (CPKC). Calgary — currently the headquarters of CP Rail — will be the global headquarters of CPKC, and Kansas City, Mo., will be the U.S. headquarters. The Mexican headquarters will remain in Mexico City and Monterrey. CP Rail’s U.S. headquarters in Minneapolis-St. Paul will also remain an important base of operations, the company said.
WestJet Airlines Ltd. — WestJet Airlines Ltd. has named Harry Taylor its interim president and chief executive. Taylor has been WestJet's chief financial officer since 2015. He will assume the interim CEO role between late November and mid-December 2021. Taylor will replace current WestJet chief executive Ed Sims, who announced in June his plans to retire at the end of this year. Sims has been CEO since May of 2017. Jennifer Bue, WestJet’s current vice-president of finance planning and analysis, has been named interim CFO. WestJet says Taylor played a key role in helping steer the airline through the COVID-19 pandemic. He was responsible for managing WestJet's liquidity at a time when little to no revenue was coming in. Taylor also led WestJet's first U.S. bond issue and negotiated the purchase of the airline's new Boeing 787 Dreamliner and Boeing MAX aircraft. In a news release, Taylor said there is still a great deal of work to be done as WestJet aims to rebuild post-pandemic.
This report by The Canadian Press was first published Sept. 15, 2021.