Thursday, October 30th8.7°C
21625
22916

Canada Bread to be sold for $1.83 billion to Mexico's Grupo Bimbo

TORONTO - A Mexican company is buying Canada Bread (TSX:CBY) in a deal valued at $1.83 billion with the support of its parent Maple Leaf Foods (TSX:MFI).

Grupo Bimbo is offering $72 per cash for all shares of Canada Bread, maker of Dempsters and other food brands.

That's about seven per cent above Canada Bread's recent stock price and 31 per cent higher than when it was put up for sale.

Canada Bread and Maple Leaf said in October that they were looking for a buyer at the right price.

Canada Bread shares closed Tuesday at $67.26, up from $61.25 on Oct. 18. Maple Leaf shares closed Tuesday at $15.84, up from $13.30 on Oct. 18.

The Canadian Press


Read more Business News

23901


Recent Trending




Today's Market
S&P TSX14458.69-68.88
S&P CDNX771.65-9.42
DJIA17195.42221.11
Nasdaq4566.138+16.912
S&P 5001994.65+12.35
CDN Dollar0.8936+0.0002
Gold1198.60-0.10
Oil80.73-0.17
Lumber322.40-1.20
Natural Gas3.715+0.066

 
Okanagan Companies
Pacific Safety0.11+0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.150.00
Cantex0.045-0.015
Anavex Life Sciences0.1711-0.0089
Metalex Ventures0.0350.00
Russel Metals32.22-0.35
Copper Mountain Mining1.97-0.05
Colorado Resources0.14+0.005
ReliaBrand Inc0.012-0.004
Sunrise Resources Ltd0.05+0.025
Mission Ready Services0.375+0.005

 



23901

FEATURED Property
2119582191 - 1880 Old Boucherie Road
3 bedrooms 2 baths
$98,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Empty nesting: financial issues

Now that the children have ‘left the nest’, it is a good time to step back and take stock of your financial situation. Being on your own will probably cut household costs to some extent, b...


Keep your haunted home safe

Eerie sounds, spooky lights and Jack-o’-lanterns aglow—extra efforts at Halloween will keep visitors coming back for both tricks and treats. However, to keep the fun going, it’s imp...


What I learned in China

Photo: ContributedI will never be an expert on China. It is just too big, too complex and too old with layers of history and meaning that would take several lifetimes to unravel. As I said to my hosts...

_








Member of BC Press Council


23091