Most actively traded companies on the Toronto Stock Exchange

TORONTO Some of the most active companies trading on the Toronto Stock Exchange on Monday:

Toronto Stock Exchange (20,052.25, down 98.62 points.)

The Toronto Dominion Bank. (TSX:TD). Finance. Down 29 cents, or 0.34 percent, to $85.08 on 16.9 million shares.

Bombardier Inc. (TSX:BBD.B). Industrial. Three cents, or 1.36 percent, fell to $2.18 on 12.6 million shares.

TC Energy Corp. (TSX:TRP). Energy. Up 34 cents, or 0.55 percent, to $61.82 on 9.4 million shares.

Baytex Energy Corp. (TSX:BTE). Energy. An increase of 16 cents, or 4.46 percent, to $3.75 on 8.2 million shares.

Crescent Point Energy Corp. (TSX:CPG). Energy. Up 19 cents, or 3.18 percent, to $6.17 on 7.2 million shares.

Cenovus Energy Inc. (TSX:CVE). Energy. Up 39 cents, or 3.06 percent, to $13.12 on 6.7 million shares.

Companies in the news:

Canadian National Railway Co. (TSX:CNR). Down $2.09 or 1.4 percent to $147. Canadian National Railway Co. has called a special shareholders’ meeting on March 22 in response to a request from an activist investor dissatisfied with CN’s offer for Kansas City Southern. UK-based TCI Fund Management Ltd. seeks an overhaul of the railways board of directors and the replacement of CN CEO Jean-Jacques Ruest. Montreal-based CN says it remains focused on pursuing its growth and value creation strategy, despite “TCI’s inappropriate attempts to gain effective control of the company.” CN says it has already added three new independent directors and has achieved gender equality among independent directors ahead of schedule. It also received a $700 million break fee after it abandoned its offer for KCS, which instead agreed to a merger with Canadian Pacific Railway Ltd. It has also suggested Jim Vena, former Chief Operating Officer at CN, as a possible replacement for Ruest. CN says TCI is in a conflict of interest because, while it owns five percent of the railroad, it is also the largest shareholder in Calgary-based CP Rail.

Sun Life Financial Inc. (TSX:SLF). $1.59 or 2.4 percent up to $66.65. Sun Life Financial Inc. has signed an agreement to purchase DentaQuest, a provider of dental benefits in the United States, for $3.1 billion. The company says DentaQuest will become part of the US Sun Life business, which provides dental benefits for employee benefits plans through employers. Sun Life says DentaQuest will more than double the size of its US employee benefits business in terms of revenue. DentaQuest has more than 33 million members in 36 states and approximately 2,400 employees. Kevin Strain, CEO of Sun Life, says the acquisition of DentaQuest is consistent with its strategy to focus on health and group benefits in the United States. The transaction is expected to close in the first half of next year, subject to regulatory approval and customary closing conditions.

Magna International Inc. (TSX:MG). 40 cents up to $97.45. Magna International Inc. walks away from its deal to buy Swedish tech company Veoneer Inc. after its offer was completed by Qualcomm Inc. The Ontario-based auto parts company says it will waive a four-day match period to counter-propose after Qualcomm’s offer was deemed a superior proposition. Magna announced a deal in July to buy Veoneer for $31.25 per share for a total value of $3.8 billion. Qualcomm, however, intervened with an offer of $37 per share for a total value of approximately $4.5 billion. Magna CEO Swamy Kotagiri says the company’s decision underscores its disciplined approach to valuation in pursuing strategic acquisitions. In connection with the termination of the merger agreement with Magna, Veoneer will pay a break fee of US$110 million.

This report from The Canadian Press was first published on October 4, 2021.

The Canadian Press