Province Accepts Proposals for Surface Coal Resources

first_imgNATURAL RESOURCES–Province Accepts Proposals for Surface CoalResources The province has accepted proposals from three companies toexplore, develop and reclaim four areas, or claim blocks, in theSydney coalfield. The successful companies are Thomas Brogan and Sons ConstructionCompany, Coastal Construction and Excavating Limited and PioneerCoal Limited. Thomas Brogan and Sons and Coastal Construction are now entitledto apply for exclusive mineral rights to coal lying within theBirch Grove and Boularderie Island claim blocks, respectively.Pioneer Coal is eligible to pursue exclusive mineral rights tocoal within both the Point Aconi and Broughton resource blocks. “These companies have demonstrated that they are technically andfinancially able to conduct their proposed projects and havecorporate experience in the local area,” said Natural ResourcesMinister Richard Hurlburt. “We look forward to working with themas they move to the next steps.” “Cape Breton still has significant coal resources, which canprovide important economic benefits to our communities andcompanies such as the Cape Breton Central Nova Scotia Railway,”said Energy Minister Cecil Clarke. “These proposals support ourcommitment to develop these valuable resources in a responsibleway – a commitment we made to Nova Scotians in our energystrategy, Seizing the Opportunity.” In addition to making applications for the mineral rights, thecompanies must also obtain land access rights and adhere to allregulatory requirements, which include securing industrialapprovals and environmental assessments. Several of these sites require reclamation work to restore landsimpacted by decades of underground mining operations. Six companies responded to a call for proposals issued inDecember 2003.last_img read more

Just For Laughs sold to Howie Mandel and US company

Just for Laughs has been sold to an investor group led by Canadian comedian Howie Mandel and ICM Partners, an America talent agency. The groups says the Montreal-based company will continue normal operations, with the same leadership in place. Last fall, several women came forward with allegations of sexual assault and sexual harassment against Just For Laughs founder and major stakeholder, Gilbert Rozon. Rozon denied the allegations, which have not been proven in court, but said he would sell his majority shares in the company. Just For Laughs produces international comedy tours, television specials, and annual festivals around the world including in Toronto, Montreal, Vancouver and Sydney.

Correction AbbottSt Jude Acquisition story

This Wednesday, July 22, 2015, photo shows St. Jude Medical corporate headquarters, in Little Canada, Minn., just north of St. Paul. Abbott Laboratories will spend $19.3 billion to buy St. Jude Medical Inc. in a cash-stock deal that aims to strengthen the medical device maker’s stake in cardiovascular care, the companies announced Thursday, April 28, 2016. The combined company will offer devices in nearly every area of cardiovascular care, competing directly with industry leaders Medtronic Inc. and Boston Scientific Corp. (Glen Stubbe/Star Tribune via AP) MANDATORY CREDIT; ST. PAUL PIONEER PRESS OUT; MAGS OUT; TWIN CITIES LOCAL TELEVISION OUT by The Associated Press Posted Apr 29, 2016 9:13 am MDT Last Updated Apr 29, 2016 at 9:44 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Correction: Abbott-St Jude Acquisition story In a story April 28 about an Abbott Laboratories plan to buy St. Jude Medical, The Associated Press reported erroneously the deal’s value. Abbott Laboratories will spend $25 billion to buy St. Jude Medical, not $19.3 billion.A corrected version of the story is below:Abbott Labs to spend $25 billion to buy St. Jude MedicalAbbott Laboratories will spend $25 billion to buy St. Jude Medical Inc. in a cash-stock deal that aims to strengthen the medical device maker’s share of the market for cardiovascular careBy TOM MURPHY and MATTHEW PERRONEAP Business WritersAbbott Laboratories will spend $25 billion to buy St. Jude Medical Inc. in a cash-stock deal that aims to strengthen the medical device maker’s stake in cardiovascular care.Shares of North Chicago, Illinois-based Abbott plunged, while St. Jude soared Thursday morning after the companies announced the deal.The combined company will offer devices in nearly every area of cardiovascular care, competing directly with industry leaders Medtronic Inc. and Boston Scientific Corp. It noted that the acquisition will blend St. Jude’s pacemaker and implantable defibrillator business with Abbott’s focus on artery-opening stents and heart repair products.Wells Fargo analyst Larry Biegelsen said the deal makes sense because “there is very little overlap” between the companies’ offerings. The combined business will be better able to compete with larger companies in the device space, including Johnson & Johnson.Abbott said St. Jude shareholders will receive $46.75 in cash and a portion of Abbott stock for each St. Jude share. The total consideration adds up to about $85 per share.That represents a 37 per cent premium to Wednesday’s $61.95 closing price of St. Jude shares.The deal value totals around $30.7 billion based on Abbott’s recent stock price and assuming about $5.7 billion in St. Jude debt.Abbott makes medical devices and generic drugs, but infant formula and nutritional beverages, which includes the Similac, Ensure and Pedialyte brands, make up the company’s biggest business. In February, Abbott said it would spend $4.8 billion on Alere Inc. to expand its medical testing business.St. Jude’s expertise selling medical implants to hospitals should open new opportunities and help drive sales for Abbott’s devices, according to Leerink Swann analyst Danielle Antalffy.“Abbott’s device business has been under-scaled, driving underperformance over the last few years,” Antalffy states, in a note to investors.Abbott said the boards of both companies have approved the deal for St. Paul, Minnesota-based St. Jude. The companies expect the deal will close in the fourth quarter, but the acquisition still must be reviewed by regulators and approved by St. Jude shareholders. read more