(Reuters) - Van Houtte said the price offered is C$25 per share. According to the company's latest quarterly report that stated the company had, on average, 21.394 million shares outstanding during the three-month period ended Jan. 6, the equity portion of the offer is worth about C$535 million.
Shares of Van Houtte surged to as much as C$26.50 on the Toronto Stock Exchange on Wednesday before the stock was halted for the remaining of the session.
Read more at Reuters.com Mergers News
Thursday, April 19, 2007
Brazil's Bonds Soar After Central Bank Dissenters Push for Bigger Rate Cut
(Bloomberg) -- Brazilian real-denominated bonds posted their biggest gain in seven months after the central bank signaled it may quicken the pace of interest-rate reductions.
The yield on the government's benchmark zero-coupon bond due in January 2008 dropped 19 basis points to a record low of 11.72 percent after three of the central bank's seven directors pushed for a bigger cut than the quarter percentage point reduction carried out last night. The dissenters voted for a half-point cut, to 12.25 percent.
Read more at Bloomberg Bonds News
The yield on the government's benchmark zero-coupon bond due in January 2008 dropped 19 basis points to a record low of 11.72 percent after three of the central bank's seven directors pushed for a bigger cut than the quarter percentage point reduction carried out last night. The dissenters voted for a half-point cut, to 12.25 percent.
Read more at Bloomberg Bonds News
WRAPUP 1-China's economy accelerates in Q1, more tightening see
(Reuters) - BEIJING, April 19 - China's economy grew at a blistering 11.1 percent annual pace in the first quarter on the back of booming investment and exports, fuelling speculation that interest rates would need to rise again soon.
The growth rate announced on Thursday was broadly in line with the 11.0 percent forecast by economists in a Reuters poll but it marked an acceleration from 10.4 percent in the fourth quarter of 2006.
Read more at Reuters.com Economic News
The growth rate announced on Thursday was broadly in line with the 11.0 percent forecast by economists in a Reuters poll but it marked an acceleration from 10.4 percent in the fourth quarter of 2006.
Read more at Reuters.com Economic News
Altria mulls possible international spinoff
(Reuters) - Analysts have expected Altria to spin off the international business, which has shown stronger growth than the Philip Morris USA unit, as a second step in the company's corporate overhaul.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
FHLB sells $4 billion 2-year global notes
(Reuters) - Barclays Capital, Goldman Sachs, J.P. Morgan and UBS Investment Bank were the joint lead managers on the offering.
The last FHLB global note sale was a $3 billion 2-year issue priced in mid-February.
Read more at Reuters.com Bonds News
The last FHLB global note sale was a $3 billion 2-year issue priced in mid-February.
Read more at Reuters.com Bonds News
Canada's Dollar Rises to Five-Month High on Faster-Than-Forecast Inflation
(Bloomberg) -- Canada's dollar strengthened to a more than five-month high after a government report showed consumer prices rose last month more than economists forecast.
The central bank kept the target rate for overnight lending between banks at 4.25 percent on March 6 for a sixth straight meeting, saying inflation will return to its 2 percent target at the beginning of 2008. The bank next meets April 24.
Read more at Bloomberg Currencies News
The central bank kept the target rate for overnight lending between banks at 4.25 percent on March 6 for a sixth straight meeting, saying inflation will return to its 2 percent target at the beginning of 2008. The bank next meets April 24.
Read more at Bloomberg Currencies News
Canadian Stocks May Decline From Record on Rate Concerns; Encana May Slip
(Bloomberg) -- Canadian stocks may fall from a record, led by commodity producers including EnCana Corp., on speculation central banks in China and Canada may raise borrowing costs to stem inflation.
China, the world's second-biggest consumer of oil and the largest buyer of copper, said its economy expanded at a faster- than-expected pace of 11.1 percent in the first quarter. Inflation in Canada, where such commodities as energy and metals dominate exports and the stock market, accelerated more than forecast in March.
Read more at Bloomberg Stocks News
China, the world's second-biggest consumer of oil and the largest buyer of copper, said its economy expanded at a faster- than-expected pace of 11.1 percent in the first quarter. Inflation in Canada, where such commodities as energy and metals dominate exports and the stock market, accelerated more than forecast in March.
Read more at Bloomberg Stocks News
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