Reuters — Hexo Corp said on Friday it would buy Redecan, a privately-owned Niagara-region cannabis producer, for $925 million in cash and stock, as the pot producer bolsters its portfolio to tap surging demand and position itself as a top recreational weed supplier. Cannabis demand surged last year as many people turned to pot during
Hexo steps up cannabis M+A spree with Redecan deal
BHP reported in talks with Nutrien on potash partnership
Reuters — BHP Group is in discussions with fertilizer maker Nutrien about a partnership in the miner’s massive potash project in Saskatchewan, Bloomberg reported Wednesday, citing sources. Potential options include Nutrien acquiring a stake in BHP’s mine at Jansen, Sask., or becoming the mine’s operator and selling the potash through its channels, the report said,
Vegan milk maker Oatly seeks US$10 billion valuation in IPO
Oprah Winfrey-backed vegan milk maker Oatly is aiming for a valuation of about US$10 billion in a U.S. initial public offering, following increasing consumer demand for plant-based dairy. The company, whose investors also include rapper Jay-Z and former Starbucks head Howard Schultz, plans to offer nearly 65 million American depositary shares and an additional 20
Kansas City Southern sticks with CN as CP won’t raise bid
CN confident of regulatory approval
Reuters — Kansas City Southern on Friday reiterated that Canadian National Railway’s offer was “superior” after Canadian Pacific Railway refused to raise its bid, moving a step closer to creating the largest-ever merger of North American railways by transaction value. The Canadian rivals have been locked in a takeover battle for the U.S. railroad operator
CN shareholder urges changes to Kansas City Southern deal
Fund manager also holds stake in CP
Reuters — Billionaire hedge fund manager Chris Hohn on Tuesday urged Canadian National Railway to abandon its $33.6 billion bid for Kansas City Southern unless the Canadian railway changed its agreement to drop a key feature that could invite more regulatory scrutiny. Hohn’s TCI Fund Management, which has a 2.93 per cent stake in CN,
CN bid for U.S. railway poses greater risk to competition, DOJ says
Reuters — The U.S. Department of Justice said on Friday that Canadian National Railway’s bid for U.S. railway operator Kansas City Southern appears to pose greater risks to competition than a rival agreement with Canadian Pacific Railway. The development comes as KCS on Thursday accepted CN’s $33.6 billion acquisition offer, upending the $29 billion deal
La Nina done, U.S. CPC says
Neutral weather likely through summer
Reuters — A U.S. government weather forecaster said on Thursday La Nina has ended and El Nino-Southern Oscillation (ENSO) neutral conditions are likely to continue through the Northern Hemisphere summer. “ENSO neutral” refers to periods in which neither El Nino nor La Nina is present, often coinciding with the transition between the two weather patterns,
JBS able to pass on higher grain costs in North America
Sao Paulo | Reuters — JBS SA, the world’s largest meatpacker, has been able to pass higher grain costs on to consumer prices because food demand is strong in markets such as the U.S. and Canada, executives said in an earnings call Thursday. In Brazil, where higher feed prices have dented margins of the company’s
French cereal crop ratings fall sharply after dry, cold spell
The condition of French wheat and barley declined sharply in the week to April 26, data from farm office FranceAgriMer showed on Friday, suggesting a growing impact from dry, cold weather this month. Most crops nonetheless remained in good shape and above year-earlier levels, the data showed. A dry spring so far in much of
Morocco reimposing 170 per cent duty on hard wheat
Rabat | Reuters — Morocco will reimpose customs duty on soft and hard wheat of 135 and 170 per cent respectively from May 15 in order to cut imports at a time of higher prices in international markets, the agriculture ministry said Monday. The government had said last week the duties would be reintroduced from