GFM Network News


Canada keen to boost ties, seal trade pact with India

Gandhinagar, India | Reuters –– Canada is keen to boost its business ties with India and is moving forward with attempts to seal a trade pact, Canada’s minister of infrastructure and communities told Reuters. “There is an emphasis on signing a trade agreement with India,” Amarjeet Sohi said in an interview Tuesday. “The process was

Cara to buy St-Hubert restaurant, food businesses

Reuters — Cara Operations, owner of the Swiss Chalet casual dining chain and Harvey’s burger outlets, said Thursday it will buy St-Hubert BBQ, one of Quebec’s largest casual dining chains, for $537 million to gain a foothold in the province. The deal, expected to close this summer pending regulatory approvals, was cheered by analysts and investors.


CP revises hostile bid for Norfolk Southern, again

Reuters — Canadian Pacific Railway slammed railway Norfolk Southern on Wednesday, accusing it of misleading investors even as CP executives rolled out a new bid with increased shareholder protections to acquire the U.S.-based railroad. Executives from Canada’s second-largest railroad said the deal is now in the hands of Norfolk Southern’s shareholders, and urged its board


Glencore reported in talks on agriculture assets

Reuters — Glencore is in talks with a Saudi Arabian sovereign wealth fund and China’s state-backed grain trader COFCO, along with Canadian pension funds, to sell a stake in its agricultural assets, sources familiar with the matter told Reuters. Selling assets is one prong of a wider strategy by the Swiss-based trader and miner to



Maple Leaf Foods explores sale Of Canada Bread stake

Maple Leaf Foods said on Monday it may sell its controlling stake in Canada Bread Company as it determines whether to exit the bakery business and focus on meat products. Toronto-based Maple Leaf said it has recently completed a comprehensive review of opportunities to accelerate profitable growth across its bakery business. But before committing resources,

Strike looms as talks between union, CN break down

Talks between the railroad workers’ union and Canadian National Railway have broken down, raising the possibility of a strike or a lockout by Oct. 28 at the country’s largest railroad operator, the union said Monday. The Teamsters Canada Rail Conference (TCRC), which represents some 3,300 conductors, trainmen, yardmen and traffic co-ordinators, said the company rejected


Agrium blasts hedge fund’s breakup plans

Reuters / The war of words between fertilizer maker Agrium Inc. and its biggest shareholder, Jana Partners, escalated March 4 with Agrium slamming the hedge fund’s plan to split the company in a letter to investors ahead of its annual meeting next month. Calgary, Alberta-based Agrium, which has begun mailing its proxy circular to shareholders

Proxy fight brewing for Agrium board

The drawn out battle between Agrium and its largest shareholder Jana Partners looked set for a bruising proxy battle on Tuesday, a day after the activist hedge fund rejected Agrium’s call for a truce. The fertilizer maker and farm products retailer threw down the gauntlet late on Monday by nominating David Everitt and Mayo Schmidt