Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (15,575.63, down 10.50 points):
Veresen Inc. (TSX:VSN). Oil and gas. Up $2.90, or 19.04 per cent, to $18.13 on 16.6 million shares. Pembina Pipeline Corp. (TSX:PPL) (down $1.45, or 3.33 per cent, to $42.05 on 5.03 million shares) announced Monday a $9.7-billion friendly takeover offer for Veresen in the latest case of energy companies pushing for scale and diversification in uncertain times. The Calgary-based companies both provide pipeline, storage and processing infrastructure in several key oil-and-gas producing areas of Western Canada, but their geographic and product profiles are complementary, their officials told a conference call with financial analysts.
Royal Bank of Canada (TSX:RY). Bank. Down 19 cents, or 0.20 per cent, to $93.28 on 9.6 million shares.
Timmins Gold Corp. (TSX:TMM). Miner. Up five cents, or 9.43 per cent, to 58 cents on 6.4 million shares.
Bombardier Inc. (TSX:BBD.B). Aerospace, rail equipment. Down seven cents, or 3.32 per cent, to $2.04 on 6.3 million shares.
Toronto-Dominion Bank (TSX:TD). Bank. Up four cents, or 0.06 per cent, to $64.27 on 6.2 million shares.
Home Capital Group Inc. (TSX:HCG). Financial Services. Down $1.08, or 13.43 per cent, to $6.96 on 5.6 million shares. The Toronto-based mortgage lender says it expects to receive an initial $1 billion on Monday from the $2 billion credit line it was provided last week as more customers pulled their savings out of the struggling company. Shares tumbled last week following allegations from Ontario's securities watchdog that it misled investors, accusations it says are without merit and has promised to defend itself against. The news spurred many savers to withdraw their deposits, which Home Capital uses to fund its lending.
Companies reporting major news:
Canadian Imperial Bank of Commerce (TSX:CM). Bank. Down 68 cents, or 0.62 per cent, to $109.57 on 1.6 million shares. A shareholder advisory firm is recommending shareholders of Chicago-based PrivateBancorp vote against a proposed takeover deal by the CIBC. Institutional Shareholder Services says despite some potential short-term volatility if the CIBC deal is rejected, "the upside potential of a stand-alone strategy appears more compelling."
Equitable Group Inc. (TSX:EQB). Financial Services. Up $10.86, or 29.76 per cent, to $47.35 on 1.2 million shares. Shares soared on Monday after the alternative mortgage lender said it reached a deal to borrow up to $2 billion, if needed, from a syndicate of Canadian banks. Equitable's stock price had been under pressure after clients of rival Home Capital Group began pulling their money out of that subprime lender.
Valeant Pharmaceuticals International Inc. (TSX:VRX). Pharmaceutical. Up 57 cents, or 4.51 per cent, to $13.22 on 1.1 million shares. The Quebec-based drugmaker announced it had trimmed its hefty debt by an extra US$220 million.