GardaWorld’s takeover target, G4S, has another suitor. This one backed by the Caisse: Canadian security company GardaWorld now faces a takeover fight for British-based G4S PLC after confirmation that U.S. rival Allied Universal Security Services LLC has also made an unsolicited takeover bid. The situation is made more intriguing by the fact that a big Allied shareholder is pension fund giant Caisse de dépôt et placement du Québec. (Nicolas Van Praet)
Venture capital, private equity financings fall in third quarter amid pandemic uncertainty: The pandemic is slowing down deal making in Canada’s venture capital and private equity markets, with the value of investing in the two sectors dropping sharply this year after running at a record-setting pace in 2019. (Andrew Willis)
Scotiabank replaces head of strategy Randy Lyons, promotes Anique Asher to new role: Bank of Nova Scotia has replaced its head of strategy, promoting Anique Asher to a new role intended to ensure a closer alignment between the bank’s plans and its financial outcomes. (James Bradshaw)
Greg Walker joins Evolve after leaving Vanguard: Former Vanguard executive Greg Walker has joined the executive team at Evolve Funds Group Inc. Mr. Walker, who left his position as head of institutional sales for exchange-traded funds at Vanguard Investments Canada Inc. in August, has been named executive vice-president and head of institutional sales and national accounts at Evolve. (Clare O’Hara)
Opinion: How a murky balance sheet line signals weak profits ahead: It’s one of the most murky and least understood parts of a balance sheet. But a line called “deferred tax assets” – and how it changes quarter to quarter – can provide clues to a company’s future profits. Or, in the case of 2020, the lack of future profits. (David Milstead)
Ant Group’s blockbuster $37-billion IPO suspended in Shanghai and Hong Kong: China suspended Ant Group’s $37-billion stock market listing on Tuesday, thwarting the world’s largest IPO with just days to go in a dramatic blow to the financial technology company founded by billionaire Jack Ma. (Reuters)
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