TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (19,971.15, down 4.86 points.)
Blackberry Ltd. (TSX:BB). Technology. Up $4.33, or 31.1 per cent, to $18.25 on 37.1 million shares.
Baytex Energy Corp (TSX:BTE). Energy. Down 13 cents, or 5.99 per cent, to $2.04 on 13.4 million shares.
Zenabis Global Inc. (TSX:ZENA). Healthcare. Unchanged at 15 cents on 9.7 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Up 67 cents, or 2.26 per cent, to $30.22 on 8.7 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Up 34 cents, or 3.17 per cent, to $11.06 on 7.1 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Up 33 cents, or 6.12 per cent, to $5.72 on 7.1 million shares.
Companies in the news:
Brookfield Infrastructure LP. (TSX:BIP.UN). Down 92 cents or 1.39 per cent to $65.51. Brookfield Infrastructure Partners LP has raised its hostile takeover offer for Inter Pipeline Ltd. to top a friendly deal the company struck to be acquired by Pembina Pipeline Corp. Brookfield Infrastructure said Wednesday its offer is valued at $19.75 per Inter Pipeline share including 74 per cent in cash and 26 per cent in shares. Inter Pipeline’s all-stock deal with Pembina would see shareholders receive half a Pembina share for each Inter Pipeline share they hold. Pembina shares were up 21 cents at $38.02 in trading on the Toronto Stock Exchange on Wednesday. Brookfield Infrastructure said its offer, which includes up to $5.6 billion in cash, has received all required regulatory approvals and could close within weeks with minimal transaction risk. It also noted that as financial investor it would not be seeking significant cost synergies by eliminating jobs.
Canopy Growth Corp. (TSX:WEED). Up $1.43 or 4.9 per cent to $30.76. Canopy Growth Corp. is no longer involved in a cannabis venture it was pursuing with rapper Drake. The Smiths Falls, Ont., cannabis company says in an email that it has divested its participation in Drake’s More Life Growth Company. Canopy and Drake announced they would work together in November 2019 and structured their partnership around an agreement where Drake would hold a 60 per cent stake in More Life and Canopy would control the remaining 40 per cent. In financial statements Canopy filed this week, the company says both parties agreed to terminate their sublicense agreement at the start of March and Canopy recognized a $10.3-million impairment on the investment later that month. The statements also show that Canopy “derecognized” almost $33.7 million in remaining minimum royalty obligations owing to More Life that month. Canopy did not share why it pursued the divestiture and Drake’s publicists and the agency representing him did not immediately respond to requests for comment.
This report by The Canadian Press was first published June 2, 2021
The Canadian Press
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