Mergers & Acquisitions

TD to acquire Target’s U.S. credit card portfolio

TD Bank Group will acquire Target’s existing U.S. Visa and private label card portfolio, with a gross outstanding balance of US$5.9 billion. The deal is expected to close in the first half of 2013. Also, the two companies have entered into a seven-year agreement. TD will become the exclusive issuer of Target-branded Visa and private […]

By Staff |October 23, 2012

2 min read

Industry

RBC scoops up Ally Financial for $1.4 billion

Royal Bank of Canada has confirmed its deal to acquire the Canadian auto finance and deposit business of Ally Financial Inc. The bank says the deal will strengthen its position as a consumer and commercial lender, as well as significantly increase its presence in auto-related financing. The net cost for the deal will be about […]

By Wire services |October 23, 2012

2 min read

Economic Indicators

Petronas deal blocked by federal government

Natural gas producer Progress Energy Resources was disappointed Friday after the federal government rejected a Malaysian state-owned energy giant's proposed takeover bid for the Calgary company.

By Wire services |October 22, 2012

2 min read

Industry

National Bank exec moves to Macquarie

Macquarie Group has hired away a National Bank exec.

By Staff |October 10, 2012

1 min read

Fiera buys Canadian Wealth Management

Fiera Capital Corporation is acquiring Canadian Wealth Management Group Inc. (CWM), a Calgary-based wealth management boutique serving high net worth clients. Terms of the deal were undisclosed. The transaction is expected to close in Q4 2012. Read: Fiera Sceptre buys Natcan CWM operations will be fully integrated into Fiera Capital private wealth’s existing business. “We […]

By Staff |October 4, 2012

1 min read

Western Financial buys Orion Insurance office

Western Financial Group has purchased Orion Insurance Brokers’ office in Winnipeg. “This acquisition will let us continue expanding our business and offer Western’s range of services and products,” says Sheryle Lazaruk, office manager at Orion. Orion was founded in 1993. It was purchased in 2008 and joined the multi-location P.M.C. group of brokerages. “Winnipeg is […]

By Staff |September 7, 2012

1 min read

MGA merger: Financial Horizons acquires Audis

The trend of M&As continues in Canada. In the latest development, Financial Horizons Inc., a large MGA, announced the acquisition of another MGA, Audis Canada Ltd. The transaction is expected to close by October 31, 2012. It involves the purchase of 100% of the shares of Audis Canada by Financial Horizons in exchange for cash […]

By Vikram Barhat |September 5, 2012

2 min read

CIBC to acquire U.S. energy advisory firm

CIBC is set to acquire Griffis & Small, LLC, a Houston, Texas-based energy advisory firm specializing in acquisitions and divestitures in the exploration and production sector. The transaction is expected to close in Q4 2012. Financial terms of the deal were undisclosed. “[The acquisition] complements our oil and gas activities globally, including in Calgary where […]

By Staff |August 30, 2012

1 min read

Mergers & Acquisitions

TD to acquire Target’s U.S. credit card portfolio

RBC scoops up Ally Financial for $1.4 billion

Petronas deal blocked by federal government

National Bank exec moves to Macquarie

Fiera buys Canadian Wealth Management

Market volatility slows mining deals

Western Financial buys Orion Insurance office

MGA merger: Financial Horizons acquires Audis

Pros and cons of Scotiabank’s ING purchase

CIBC to acquire U.S. energy advisory firm