Canada is looking for some reassurances regarding its overseas trade deals. Politicians here wants more than optimistic talk from the United Kingdom's new Prime Minister regarding the U.K.'s business and commercial dealings with Canada, which likely will affect Canadian entrepreneurs. Canada's business owners want to see trade continue to grow between the two countries even on the heels of the U.K.'s exit from the European Union.
With more and more insurance companies joining forces, actions are being ramped up to thwart cybertheft. News recently released shows that there have been more mergers and acquisitions in the insurance industry in Canada over the last year. In fact, a well-known mergers and acquisitions advisory firm says there were more than 625 brokerage and agency transactions made public in Canada and stateside last year -- significantly up from 2017.
One of the country's major cannabis producers has stopped production amid allegations by Health Canada officials that the company was producing product illegally. The business and commercial world was sent reeling recently as CannTrust's market shares plummeted and the company voluntarily halted production at its headquarters in Vaughn, Ontario. The company is accused of growing cannabis at its Pelham, Ontario location between Oct. 2018 and this past March -- in rooms that were apparently unlicensed to do so.
A second bidder for one of Canada's major airlines has withdrawn its bid. On the mergers and acquisitions news front recently, Group Mach has withdrawn its offer for Transat A.T. since the company didn't acknowledge its offer despite it being higher than Air Canada's bid. Group Mach offered $14 a share, while Air Canada's offer stands at $13 per share, or $520 million.
What's happening in the gold market lately could mean a lot of dealmaking is in the works. Mergers and acquisitions could be on the upswing in Canada's gold mining sector as gold prices continue to soar in the country. Yet on the eve of this news, many companies' stocks were trading down by more than 2%.