TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (21,173.45, down 111.39 points.)
The Royal Bank of Canada. (TSX:RY). Financials. Up 25 cents, or 0.19 per cent, to $132.70 on 11.5 million shares.
Athabasca Oil Corp. (TSX:ATH). Energy. Down one cent, or 0.95 per cent, to $1.04 on eight million shares.
Bank of Montreal. (TSX:BMO). Financials. Up 63 cents, or 0.46 per cent, to $137.89 on 5.8 million shares.
Denison Mines Corp. (TSX:DML). Materials. Down two cents, or 0.85 per cent, to $2.33 on five million shares.
Enbridge Inc. (TSX:ENB). Energy. Down 11 cents, or 0.21 per cent, to $52.75 on 4.6 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Unchanged at $2.17 on 4.6 million shares.
Companies in the news:
Rogers Communications Inc. (TSX:RCI.B). Down 24 cents to $56.31. The son of late Rogers Communications Inc. founder Ted Rogers is seeking a ruling from B.C.'s Supreme Court that would legitimize a company board he formed by replacing five of its members. Edward Rogers' mother Loretta Rogers and sisters Melinda Rogers-Hixon and Martha Rogers claim the board is illegitimate and does not comply with laws in B.C., where the company is incorporated. They and several other associates say the only legitimate version of the Rogers board is the one that existed last week, before Edward Rogers replaced five directors with people of his choosing. Edward Rogers was ousted from his role as board chair, but he remains at the helm of his family's trust, which controls 97 per cent of the firm's Class A voting shares and 10 per cent of outstanding Class B shares. He has been at the centre of a power struggle since media reports revealed he was plotting to give Rogers' former chief financial officer Tony Staffieri the job of CEO Joe Natale, a move some family and board members oppose. The ongoing feud has left Rogers in a state of uncertainty as it awaits regulatory approvals for a $26-billion takeover of rival Shaw Communications Inc.
George Weston Ltd. (TSX:WN). Down $2.15 or 1.6 per cent to $136.41. George Weston Ltd. has signed a deal to sell its Weston Foods fresh and frozen bakery businesses to FGF Brands Inc. for $1.2 billion. The company put Weston Foods up for sale in March as part of a plan to focus on its retail and real estate businesses including its large stake in Loblaw Companies Ltd. and interest in Choice Properties Real Estate Investment Trust. Weston Foods produces bread, rolls and other baked goods in Canada and the U.S. The company makes private label products and brands including Wonder, Ace Bakery and D'Italiano. The fresh and frozen bakery businesses made up about 75 per cent of Weston Foods' 2020 net sales. George Weston said Tuesday it remains committed to selling its remaining food business — comprising cookies, cones, crackers and wafers. FGF Brands is a Canadian, family-owned bakery company founded in 2004. Its brands include Stonefire Authentic Flatbreads and Simple Joys Bakery and has bakeries in Canada and the United States.
West Fraser Timber Co. Ltd. (TSX:WFG). Down $3.29 or 3.1 per cent to $102.02. West Fraser Timber Co. Ltd. has signed a deal to buy Georgia Pacific's oriented strand board mill near Allendale, S.C., for US$280 million. The company says the mill will give it the flexibility to better meet customer demand, particularly in the southeastern U.S. The mill, which began producing OSB in 2007, has been idle since late 2019. It has an estimated stated capacity of approximately 760 million square feet. West Fraser says it plans to spend an estimated US$70 million to upgrade and optimize the mill in preparation for its restart. The mill is expected to employ approximately 135 people.
This report by The Canadian Press was first published Oct. 26, 2021.
The Canadian Press