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Tag Archives: energy

First it was energy, now Valeant and Bombardier are spooking bond investors away from Canada

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Canada’s bond market has been ravaged by the global commodities rout. So when a drugmaker and an aerospace company join the misery with even bigger losses, investors can’t be blamed for rushing to the exits. Six very strange things have been happening in financial markets around the world Market moves …

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Rock Energy becomes the latest target of activist FrontFour Capital Group

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About six weeks back at a conference on activist investing held in Toronto, Zac George, a portfolio manager at Connecticut-based FrontFour Capital, told the assembled guests that activism in the oil patch was set to increase. George noted that industry consolidation will be a “natural extension,” and that activity would …

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Perpetual Energy Inc’s convertible debt holders won’t be joining the offering party

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It’s a good deal for the issuer and its common shareholders but way less attractive for the company’s convertible debenture holders. That’s the situation at Calgary-based Perpetual Energy Inc.,  which recently announced a number of recapitalization measures, all of which flowed from a decision on how to repay a $50 …

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Alberta’s move to green energy seen adding $7 billion in power company debt

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Canada’s dirtiest province is cleaning up its act, and that’s expected to result in $7 billion (US$5.2 billion) in new debt from power companies such as TransAlta Corp. to fund green energy projects in the coming years. Secret deal on carbon emissions divides oilpatch EXCLUSIVE: A bargain between four of …

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Why it’s not yet time for an energy M&A binge

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It seems natural that the current weak commodity price environment will lead to more M&A, given how many cheap opportunities are out there for companies with strong balance sheets. But an examination by RBC Capital Markets of the past 20 years, which encompassed four major downtrends, demonstrates that has not …

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Husky Energy Inc to sell assets, cut Alberta spending to survive in oil’s ‘uncharted territory’

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CALGARY — Husky Energy Inc. is considering the sale of part of its vast midstream business and will cut capital spending – particularly in Alberta – in 2016 to make itself more resilient in a low oil price environment. ‘OPEC is dead’: Cartel that once blackmailed nations now only able …

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Cenovus Energy Inc not impacted by oilsands’ emissions cap, CEO Brian Ferguson says

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A new hard cap on greenhouse gas emissions in the oilsands won’t impact Cenovus Energy Inc.’s growth plans, president and CEO Brian Ferguson said Thursday. 'Group of four doesn't speak for the industry': Backlash grows against secret carbon deal Claudia Cattaneo: It’s becoming increasingly clear that hell will freeze over …

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Renewed oil price rout makes Suncor Energy’s hostile takeover bid for Canadian Oil Sands difficult to predict

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CALGARY – The renewed fall in oil prices is making it difficult to predict the outcome of Suncor Energy Inc.’s hostile takeover offer for Canadian Oil Sands Ltd. “The change in the oil price makes this an interesting poll to call,” Brendan Wood International managing director Jordan Novak said in …

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Energy East pipeline costs jump 30%, as TransCanada makes 700 tweaks to plan

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CALGARY – Building the Energy East pipeline will cost almost $4 billion more than expected, the result of hundreds of tweaks to the project’s design and an expanded terminal in Saint John, N.B. TransCanada Corp. announced Thursday that it had filed an amendment to the National Energy Board for the …

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Suncor Energy Inc’s bid for Canadian Oil Sands Ltd pits CEO’s pledge to deliver against poor record

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As Canadian Oil Sands Ltd. tries to fend off Suncor Energy Inc.’s $4.33 billion bid, the latest upset at its only business couldn’t have come at a worse time. Billionaire investor Seymour Shulich says he would support a sweetened offer for Canadian Oil Sands The most outspoken opponent of Suncor …

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