TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,156.36, up 156.77 points.)
Canadian Natural Resources (TSX:CNQ). Energy. Up $2.14, or five per cent, to $44.89 on 13.5 million shares.
Lundin Mining Corp. (TSX:LUN). Materials. Down $1.06, or 9.36 per cent, to $10.27 on 8.2 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Up five cents, or 4.63 per cent, to $1.13 on 7.1 million shares.
Athabasca Oil Corp. (TSX:ATH). Energy. Up nine cents, or 9.78 per cent, to $1.01 on 6.9 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Up $1.20, or 4.12 per cent, to $30.30 on 6.9 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Up 23 cents, or 10.5 per cent, to $2.42 on six million shares.
Companies in the news:
Transat AT Inc. (TSX:TRZ). Down 64 cents or 8.9 per cent to $6.57. Transat AT Inc. says talks with Pierre Karl Péladeau regarding the potential acquisition of the travel company have ended without a deal. Péladeau had made a non-binding offer for Transat of $5 per share in cash if the purchase offer from Air Canada didn't materialize. Transat said such a deal wouldn't likely get shareholder support given the current share price. The Péladeau offer has been rejected by Transat's largest shareholder, Letko Brosseau. In mid-May, Péladeau claimed to be no longer interested in this purchase, while Transat replied that it had not been formally notified of this lack of interest. The company announced that the work of its special committee to assess strategic options will end under the circumstances. Transat says it plans to focus its efforts on its strategic plan and on the restart of its operations and flights on July 30. The plan includes considering ways to optimize its financial structure, which could include the issuance of shares or bond financing on more favourable terms than was made available by the federal government.
Inter Pipeline Ltd. (TSX:IPL). Down nine cents to $20.30. Inter Pipeline Ltd. has rejected a revised hostile takeover offer by Brookfield Infrastructure Partners LP that allows shareholders to receive their payment entirely in cash instead of a mix of cash and shares if they want. The company urged shareholders to reject the offer and support its friendly all-stock deal to be bought by Pembina Pipeline Corp., which would see shareholders receive half a Pembina share for each Inter Pipeline share they hold. Inter Pipeline said Monday it continues to believe its deal with Pembina provides greater value for shareholders. Brookfield Infrastructure said last week it would eliminate a cap on the amount of cash available under its proposal after what it says was feedback from institutional and event-driven investors. It has offered $19.50 in cash or 0.225 of a Brookfield Infrastructure class-A exchangeable share for each Inter Pipeline share. It has also said that it is prepared to increase the cash portion of its bid by up to 90 cents per share if it is successful in its challenge at the Alberta Securities Commission of a $350-million break fee Inter Pipeline would have to pay Pembina.
This report by The Canadian Press was first published June 21, 2021.