Walker abandons proxy fight for Philip

Article Abstract:

Philip Services Corp., a battered metals recycler, will no longer be pursued by Gentra Inc.'s former CEO James Walker in a proxy fight to oust its board of directors. Walker decided not to pursue his contention but refuse to say whether the reason was due to inadequate support from shareholders. Philip reportedly posted significant losses due to unauthorized trading in its copper operations. Walker had also revealed names of dissident directors of the Philip board. Meanwhile, Philip shares has dropped by 35 cents to C$7.45 on the Toronto Stock Exchange in Canada.

Comment:

Will no longer be pursued by Gentra's former CEO James Walker in a proxy fight to oust its board of directors

Metals Recovery, Materials Recovery Facilities, Metal recycling, Article, Philip Services Corp.

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Barrick abandons bid for Argentina

Article Abstract:

Barrick Gold Corp of Toronto, Ontario, has allowed its C$183 million takeover bid for Argentina Gold Corp of Vancouver, British Columbia, to expire due to lack of shares that were tendered. The company did not try to raise its C$5-per-share offer because it believed the amount reflected the worth of the land position along the El Indio Belt in Argentina that the company coveted. Barrick's decision to abandon its takeover bid comes as another surprise to investors, who were earlier surprised by the sudden departure of Barrick CEO Paul Melnuk.

Acquisitions & mergers, Gold Ore Mining, Gold Mines, Argentina Gold Corp.

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TD mulls spinning off broker empire

Article Abstract:

Toronto-Dominion Bank (TD) plans to spin off its global discount brokerage business. TD's discount brokerage empire includes Green Line Investor Services Inc, Canada's leading discount brokerage house, and Waterhouse Investor Services Inc, number three in the US. By taking its discount brokerage operations public, TD hopes to take advantage of the skyrocketing valuations being given to brokerage houses in the US.

Securities Brokerage, Toronto-Dominion Bank

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