By 5 p.m. ET today, Maple Group Acquisition Corporation has to decide the fate of its offer to purchase TMX Group. Maple informed us Friday
afternoon that the Competition Bureau's serious concerns could be alleviated by the Ontario Securities Commission's orders on the proposed takeover. It
remains to be seen whether the OSC's orders would send Maple packing. Nothing is guaranteed at this point. The offer could be extended…the offer
could be dropped…Maple could splinter. We're ready and waiting for an announcement.
Standard & Poor's went to town on Spain this morning. First, it said the country is very unlikely to hit its deficit targets. Then it
lowered its credit ratings on 11 Spanish banks, and slapped negative outlooks on a host of others. All this as we learn Spain's economy shrank for a
second consecutive quarter during the first three months of the year. Add to the mix an FT report about Spain's government considering a plan that
would relieve the country's banks of some troublesome real estate loans, and we're left with plenty to consider.
The day wouldn't feel complete without another salvo in the CP/Pershing stare-down. Bill Ackman is on another network as we speak. The entire
first block was about Burger King and bacon sundaes. When they turned to rails, Ackman said CP "realizes it's losing", and thinks its shares will
double over the next three years if he gets his way. I imagine CP has already started drafting its response.
Riadh Ben Aissa, one of the former executives at the center of SNC-Lavalin's $56-million web of suspect payments, has been arrested in Switzerland. We need to
question whether this is the next step toward a conclusive understanding of what happened at SNC. We'll try to track down Ben Aissa's legal counsel.
It's a big week for SNC, with its AGM slated for Thursday.
Howard Green is in Los Angeles for the Milken Institute Global Conference. Plenty of interviews with top business and policy leaders to come
over the next couple of days.
is getting ready for his close-up. Tomorrow he delivers a keynote address at the BlackBerry World Conference in Orlando. Let's start establishing the
stakes for RIM's CEO.
We're tracking down Chuck Jeannes for an elaboration on Goldcorp's plan after the company announced an environmental permit for its El Morro
project in Chile has been suspended.
Barnes & Noble
shares are bouncing this morning after it hooked up with Microsoft to push its e-reader platform. I'd like to hear about the long-term viability of
bricks and mortar bookstores, and whether Barnes stands a chance against Amazon.
BoC deputy governor Timothy Lane speaks at 8:30 a.m ET, Canadian GDP lands at the same time, and we've seen euro zone inflation
heated up to 2.6 percent in April. Get ready for the ECB rate decision and Mario Draghi's news conference Thursday.
We've got earnings from Anheuser-Busch InBev, NYSE Euronext, and we're waiting to hear from Suncor, Canadian Oil Sands and West Fraser Timber.
Every morning Managing Editor Marty Cej writes a "chase note" to
BNN's editorial staff listing the stories and events that will be in
the spotlight that day. In Marty's absence today's note was written by
BNN's assignment editor Noah Zivitz.