Here are the top reads on deals and financial services over the last 24 hours,
FINANCIAL SERVICES NEWS
Power Corp. has restructured. Now, it just needs to reinvent itself: Minority shareholders in Power Financial Corp. voted to exchange their common shares for subordinated voting stock in parent Power Corp. of Canada. (Konrad Yakabuski)
DEALS NEWS: MERGERS, ACQUISITIONS, IPOs and FINANCINGS
Cineplex receives shareholder approval to be acquired by Cineworld: With the acquisition of Canada’s largest movie-theatre chain, Cineworld would have the largest movie-theatre chain in North America. (Susan Krashinsky Robertson)
Investors should take quiet satisfaction in Casper Sleep’s lacklustre market debut: The trendy maker of mattresses-in-a-box went public on the New York Stock Exchange last week at US$12 a share, briefly jumped as high as US$13.98, and has been falling ever since. On Tuesday, it closed at US$9.92. (Ian McGugan)
T-Mobile merger with Sprint wins approval as U.S. judge rejects antitrust concerns: During a two-week trial in December, T-Mobile and Sprint argued the merger will better equip the new company to compete with top players Verizon Communications Inc and AT&T Inc as the third-largest U.S. wireless carrier. (Reuters)
U.S. trade body requests data from tech giants on small mergers in antitrust probe: The queries occur as the Justice Department, the FTC, state attorneys-general and the House judiciary committee are investigating the Big Tech platforms for potential anti-competitive behaviour. (Reuters)
IKEA’s new CEO eyes ‘even more affordable’ furniture as retail landscape shifts: IKEA named insider Jon Abrahamsson Ring to succeed Torbjorn Loof as chief executive of the world’s biggest furniture brand on Tuesday as it adapts to seismic shifts in shopping. (Reuters)
IN CASE YOU MISSED IT
What kind of modernization does the Securities Act really need?: Capital markets in Ontario have been dramatically transformed in recent years, notably the extensive integration of the wealth business from a widespread move to holistic planning and provision of more comprehensive financial services to cater to a diversity of clients. (Ian Russell)
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