Deeming the purchase proposal presented at the beginning of March by the Ontario company Evertz unacceptable, the Montreal supplier of solutions for streaming Haivision is acquiring a toxic dragee.
Also called a poison pill, a poison dragee is actually a shareholder rights plan that comes in the form of a defensive strategy to deter an unwanted takeover attempt by creating a significant risk of dilution.
Announced late Friday, the poison dragee would take effect as soon as a shareholder obtains a 20% or more stake in Haivision and would give all shareholders, except the hostile bidder and his co-actors, the right to buy new shares at half their market price.
Evertz offered earlier this month to acquire Haivision for $4.50 per share, an amount valuing the Montreal company at $130 million.
Several observers expect Bombardier to raise its financial targets on Thursday during the day organized for investors. CIBC’s Kevin Chiang predicts a change in tone from the management of the Montreal business jet manufacturer. “For the past two years, executive presentations have focused on restructuring and creating a more stable foundation for the business by improving margins, generating cash flow and reducing leverage. I expect leaders to focus this week on opportunities for growth and steps taken to ensure that business becomes more predictable. »
CIBC now recommends buying Transcontinental stock. The stock’s recent fall makes the stock attractive to analyst Hamir Patel. In a note on Wednesday, he said he expects sentiment towards the stock to improve by July as cost-cutting initiatives bear fruit and material costs raw materials for flyers and newsprint will stabilize.
The Montreal financial conglomerate Power Corporation revealed Thursday in its results the registration of a charge for loss of 109 million related to its stake in the manufacturer of electric buses Lion. Power is still Lion’s largest shareholder with a 35% stake.
The co-founder and executive chairman of the board of Tecsys just sold more than $2 million worth of shares in the Montreal supply chain management software provider. Dave Brereton sold blocks of shares during the Wednesday and Thursday sessions at prices ranging between $27 and $28.
Montreal-based organic energy drink producer Guru will launch a new product at the end of the month: Theanine Fruit Punch. Management presented this perfume on Thursday by revealing its results for the start of the year. Guru maintains that the new ingredient that will be used (theanine) is known to improve concentration and mental performance. If the novelty effect is likely to pique curiosity, it is in market share gains that the success of the product will be measured.
A member of the SNC-Lavalin board of directors has just bought more than $180,000 worth of shares in the Montreal engineering services firm. Christie Clark bought a block of 6,000 shares on March 8. He now owns 13,100. He has been a director at SNC-Lavalin for three years.
The decline in Fiera Capital’s stock pushes the dividend yield on the title of the Montreal asset manager to 11%.
A director of Boralex has just purchased for approximately $75,000 shares of the Quebec producer of renewable energy. André Courville bought a total of 2,000 shares on March 6. He has been a member of the Boralex Board of Directors for four years.
Quebec stocks of SNC-Lavalin, 5N Plus, CGI and Logistec all hit a new 52-week high on the Toronto Stock Exchange this week. In contrast, stocks of Cogeco Communications, Fiera Capital, Taiga, Transcontinental and LXRandCo hit 52-week lows.