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Blackstone to buy Gates Global for $5.4 bn

Investment fund Blackstone will buy US auto parts maker Gates Global for $5.4 billion, the owners of the company said Friday. The deal is the second-largest private equity takeover so far this year after Cerberus Capital's $9.1 billion agreement to merge its Albertson's supermarket chain with rival Safeway. The deal was announced by Gates's owners, the Canadian private equity company Onex and the Canada Pension Plan Investment Board. Gates is a leading producer of power transmission belts and fluid power products for the automobile and other industries.

Blackstone to buy US auto parts firm Gates for $5.4 bn

Investment fund Blackstone said Friday it will buy US auto parts maker Gates Corporation for $5.4 billion from its Canadian owners. The deal is the second-largest private equity takeover so far this year after Cerberus Capital's $9.1 billion agreement to merge its Albertson's supermarket chain with rival Safeway. Blackstone said it had clinched the cash deal to buy all of Pinafore Holdings, the parent company of Gates owned by Canadian private-equity company Onex and the Canada Pension Plan Investment Board.

Mega Brands founding family to receive $74 million if Mattel deal approved

MONTREAL - Mega Brands' founding family stands to receive more than $74 million if the toy company's sale to global giant Mattel is approved by shareholders at the end of the month, according to a regulatory filing. Chairman Victor Bertrand, who started the company nearly 50 years ago, would receive $41 million for his 2.3 million shares. Chief executive Marc Bertrand would collect $18.4 million, while chief innovation officer Vic Bertrand Jr. would get $14.9 million.

Mega Brands founding family to receive $74 million if Mattel deal approved

MONTREAL - Mega Brands' founding family stands to receive more than $74 million if the toy company's sale to global giant Mattel is approved by shareholders at the end of the month, according to a regulatory filing. Chairman Victor Bertrand, who started the company nearly 50 years ago, would receive $41 million for his 2.3 million shares. Chief executive Marc Bertrand would collect $18.4 million, while chief innovation officer Vic Bertrand Jr. would get $14.9 million.

Rubicon Minerals stock price plunges following news of major equity financing

TORONTO - Rubicon Minerals shares (TSX:RMX) lost nearly a fifth of their value Thursday in the first trading since the Vancouver-based company announced a equity financing for its Ontario gold project. The company's stock closed down 35 cents or 19.23 per cent at $1.47 as more than 5.8 million shares traded hands. Rubicon announced late Wednesday a deal with a group of underwriters to raise $100 million by issuing 64.6 million units at a price of $1.55 per unit.

Aeropostale mulls raising capital from private equity: sources

By Olivia Oran NEW YORK (Reuters) - Aeropostale Inc <ARO.N> is considering raising capital from private equity firms as the struggling teen retailer evaluates various ways to shore up both its balance sheet and its share price, four people familiar with the matter said on Monday. Aeropostale, which has reported losses for four straight quarters, faces pressure from investors to sell itself and is working with investment bank Barclays Plc <BARC.L> to study its options, the sources said.

GM to pay first quarterly dividend in almost six years

By Ben Klayman DETROIT (Reuters) - General Motors Co <GM.N> will pay the first quarterly dividend on its common stock in almost six years, marking another step in the U.S. automaker's recovery from its bankruptcy in 2009. The No. 1 U.S. automaker, which last paid a dividend in June 2008 before it moved to save money during the U.S. recession, said it will pay shareholders a quarterly dividend of 30 cents a share, payable on March 28 to shareholders of record on March 18. In 2008, its quarterly dividend was 25 cents a share.

Canaccord Genuity spends $424K buying back stock during holiday week

VANCOUVER - Canaccord Genuity Group Inc. (TSX:CF) spent nearly $424,000 last week to buy back some of its publicly traded shares for cancellation, according to figures released by the company Monday. The Vancouver-based company, which provides wealth management and capital markets services, said it paid an average of about $6.69 per share for 63,356 shares purchased Dec. 23-27. The week included the Christmas and Boxing Day holidays, when the Toronto Stock Exchange was closed and overall trading volume for equities was lower than usual during the three trading days.

Canaccord Genuity spends $424K buying back stock during holiday week

VANCOUVER - Canaccord Genuity Group Inc. (TSX:CF) spent nearly $424,000 last week to buy back some of its publicly traded shares for cancellation, according to figures released by the company Monday. The Vancouver-based company, which provides wealth management and capital markets services, said it paid an average of about $6.69 per share for 63,356 shares purchased Dec. 23-27. The week included the Christmas and Boxing Day holidays, when the Toronto Stock Exchange was closed and overall trading volume for equities was lower than usual during the three trading days.

M'bishi Motors shareholders OK plan to raise funds via public offering

Shareholders of Mitsubishi Motors Corp. approved Thursday proposals that allow the firm to raise up to 210 billion yen in a public offering to buy back preferred shares and improve its finances. The automaker will use the funds to purchase about 380 billion yen in preferred shares held by the Bank of Tokyo-Mitsubishi UFJ and other Mitsubishi group companies in order to ease the potential burden of paying relatively high dividends promised for the shares.
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