Saab's owner Swedish Automobile said Wednesday it had secured more short-term funding with a 25-million-euro ($36-million) loan and that it has paid its staff's salaries for June."Swedish Automobile announces that it entered into a 25 million euro convertible bridge loan agreement with Gemini Investment Fund Limited, thereby securing additional short-term funding," it said in a statement.
From the perspective of SEDI – the system that requires insiders to file once they either buy or sell securities in companies where they are insiders – it’s as if nothing has happened at Maple Leaf Foods.
As of Wednesday there’s no indication that West Face Capital, an activist that was brought inside the tent in 2011 at Maple Leaf Foods, has done anything at all. The market, meanwhile, fully understands and believes it no longer owns any stock.
West Face Capital appears to have sold its 14 million shares in Maple Leaf foods, bringing to an end its long history with the company, sources said Tuesday.
The final tipoff was the 7.4 million shares of Maple Leaf Foods that were traded in the early part of last week, an amount that represented more than 12 times the average daily volume.
MONTREAL • One of Quebec’s biggest food co-operatives is buying the producer of iconic Butterball turkey in Canada in a renewed bid to get Canadians eating more of the fleshy-wattled bird after three decades of stagnant consumption.
Lévis, Que.-based Exceldor is taking over Streetsville, Ont.’s P&H Foods as parent company Parrish & Heimbecker Ltd. concentrates on its core businesses including grain merchandising and milling. Terms of the transaction were not disclosed.
TORONTO – Maple Leaf Foods Inc. CEO Michael McCain put takeover speculation to rest Wednesday as industry watchers eye the U.S. bidding war currently under way for Hillshire Brands Co.
“Maple Leaf is not for sale, it hasn’t been for sale,” and the large meat processor has not been approached by prospective buyers, Mr. McCain said in an interview Wednesday after speaking at the Retail Council of Canada’s Store 2014 conference in Toronto.
TORONTO — Maple Leaf Foods says one of the three plants previously identified for closure next year will be shut permanently on Dec. 31 and the other two will close by the end of March.
The company’s plant on Panet Road in Winnipeg will be the sixth closure under a multi-year reorganization.
A Maple Leaf spokesman says the plant has about 30 employees. Some will move to Maple Leaf’s expanded Lagimodiere plant, also in Winnipeg, or elsewhere in the company while others will leave or retire.
Maple Leaf Foods Inc. (OTCPK:MLFNF) Q4 2013 Earnings Conference Call February 27, 2014 2:30 pm ET
Michael H. McCain - President and Chief Executive Officer, Maple Leaf Foods Inc. Michael H. Vels - Chief Financial Officer, Maple Leaf Foods Inc.; Canada Bread Company, Limited
Christine Healy - Scotiabank GBM Irene Nattel - RBC Capital Markets Derek Dley - Canaccord Genuity
By Mike Arnold:Maple Leaf Foods [(MLFNF.PK)(MFI.TO)] ("Maple Leaf" or "MLF" or "the company") is an undervalued Canadian food producer, comprised of a protein business and a bakery business. While the Maple Leaf business couldn't be more bland, the restructuring currently underway at Maple Leaf is more intriguing and causing the investment opportunity in the shares.
TORONTO — Maple Leaf Foods Inc. posted a $14.8-million loss in what the company concedes was a “very difficult” first quarter, but CEO Michael McCain described the problems as both “transitory” and “self-correcting.”
“This was a very difficult quarter, with lower earnings in our protein business overshadowing good improvement in our bakery results,” McCain said.