Here are the top reads on deals and financial services over the last 24 hours,
FINANCIAL SERVICES NEWS
Should a Canadian head the TMX next?: TMX, owner of the Toronto and Montreal exchanges, is now looking for a new boss after 61-year-old CEO Lou Eccleston took early retirement last month. And there’s every indication the board of this flagship company is going out of its way to scout for candidates who call Canada their home and native land. (Andrew Willis)
DEALS NEWS: MERGERS, ACQUISITIONS, IPOs and FINANCINGS
Razor giant Edgewell scraps $1.4-billion deal for Harry’s after FTC opposition: Edgewell Personal Care on Monday scrapped its debt-heavy $1.37-billion deal for peer Harry’s Inc after the U.S. competition regulator sought to stop the deal, sending the Schick razor maker’s shares surging about 26 per cent. (Reuters)
Barrick sells Kenya exploration project to Shanta Gold in $14.5-million deal: The project, which Acacia Mining began exploring in 2010 before being bought out by Barrick, is estimated to hold 1.18 million ounces of gold with a grade of 12.6 grams per tonne. (Reuters)
Private equity helped drive merger and acquisition growth in 2019: Over all, the number of M&A transactions in the public markets rose last year after a three-year dip, and, because of some multibillion-dollar transactions, the overall value jumped 85 per cent to $96-billion. (Jeffrey Jones)
Virtual Gurus raises first venture capital financing: The company secured $1.2-million in funding this month that will help it develop programs to train remote workers and expand into remote areas, including First Nations communities. (Josh O’Kane)
IN CASE YOU MISSED IT
Why Wealthsimple and robo-advisers aren’t scaring Bay Street anymore: The harsh reality is that the company simply isn’t growing fast enough. Even more sobering, the whole sector is facing a reckoning. (Tim Kiladze and Clare O’Hara)
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