TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:
Toronto Stock Exchange (21,125.90, down 487.29 points.)
Suncor Energy Inc. (TSX:SU). Energy. Down $2.20, or 6.47 per cent, to $31.82 on 19.7 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Down 91 cents, or 5.51 per cent, to $15.61 on 14.5 million shares.
iShares S&P/TSX Capped Energy Index ETF. (TSX:XEG). Down 65 cents, or 5.89 per cent, to $10.39 on 11.6 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Down 39 cents, or 9.31 per cent, to $3.80 on 9.5 million shares.
Air Canada (TSX:AC). Industrials. Down $2.08, or 8.92 per cent, to $21.24 on 9.2 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down 78 cents, or 3.13 per cent, to $24.15 on 8.7 million shares.
Companies in the news:
Rogers Communications Inc. (TSX:RCI.B). Down 94 cents or 1.58 per cent to $58.65 — Rogers Communications Inc. used the last day of CRTC hearings reviewing its proposed takeover of Shaw Communications Inc. to reject the criticism of its main rivals, while offering some concessions to independent producers and distributors. Ted Woodhead, senior vice-president of regulatory affairs at Rogers, said Friday that Bell Canada parent BCE Inc. and Telus Corp. were speaking in self interest rather than the public interest when raising concerns about the size Rogers would reach if the deal goes through. Woodhead said the combined company would lead to stronger competition in Western Canada, and that there are more regulatory safeguards in place than there were in 2012 when the CRTC forced concessions from Bell before approving its purchase of Astral Media. He noted Bell was also in talks to buy Shaw's assets, which would have seen BCE reach the same scale Rogers is seeking with the deal.
Canadian Pacific Railway Ltd. (TSX:CP). Down $2.90 or 3.06 per cent to $91.82. Mexican regulators have given their approval to Canadian Pacific Railway Ltd.'s deal to buy U.S. railway Kansas City Southern. The railways say the deal has received the OK from the Mexican Federal Economic Competition Commission and the Mexican Federal Telecommunications Institute. Calgary-based Canadian Pacific has agreed to buy KCS in a deal valued at US$31 billion, including the assumption of US$3.8 billion of debt. CP and KCS shareholders are scheduled to vote on the proposed transaction on Dec. 8 and 10, 2021, respectively. Canadian Pacific expects a review of the deal by the U.S. Surface Transportation Board to be complete in the fourth quarter of next year. The U.S. regulator has already approved the use of a voting trust for the transaction that allows KCS shareholders to receive payment after shareholders of both companies approve the deal but before it receives final approval.
This report by The Canadian Press was first published Nov. 26, 2021.
The Canadian Press