Trading in Laidlaw suspended by NYSE delisting move
Laidlaw Inc. the Burlington Ontario owner of Greyhound faces NYSE suspension of common stock and exchangeable notes for failing to meet listing rules as shares trade around nine cents US. Company reports a 2.24 billion US net loss, default on loans, and seeks a restructuring with an appeal option though no comment was available.
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John Grainger
Manulife Expands Canadian Life Insurance Portfolio
Manulife Financial Corp, Canada's largest insurer, buys Commercial Union Life Holdings Ltd from CGNU PLC. The deal adds Commercial Union's life and critical illness assets valued at about 960 million dollars and 70 million in segregated funds. CGNU will focus on property and casualty interests while Manulife’s stock closed unchanged at 44.30 on Friday.
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Friedland settles mining dispute over Summitville mine cleanup
Robert Friedland agrees to pay 27.75 million to U S and Colorado governments over ten years to settle a 1993 Summitville mine cleanup suit. The deal includes 1.25 million in Friedland legal fees, ends Canadian litigation, and directs funds to Alamosa watershed cleanup.
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Galactic Resources Corp
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