..., require Crown corporations to hold annual public meetings, clarify Treasury Board's duties to indem...(b.1) a share of the capital stock of a SIFT wind-up corporation in respect of a SIFT...
This paper examines the merger announcements of Canadian companies between 1994 and 2000 during an exceptional merger boom. The results show that both the target companies and the acquirer companies obtain significant positive abnormal returns during this time period. Companies that acquire private targets with stock have positive returns; however, acquirers of private firms have significantly higher risk compared with those that acquire public targets, despite nonsignificant differences in returns. Acquirers pay significantly less to acquire private firms than public firms, especially with stock. Overall, the findings suggest there is support for a liquidity discount for private firms, and the market is efficient in valuing firms in asymmetric conditions.
While homeownership is still within reach for middle-income households in Manitoba, the dream of owning a home is quickly fading for lower-income households as prices escalate. Real median income for renters in Manitoba, meanwhile, has remained unchanged for 15 years while rents have gone up by more than 25 per cent, leaving half of tenant households in an affordability squeeze. Throughout Manitoba, rental housing, and in particular low-cost rental housing, is virtually non-existent. According to CMHC's fall 2007 reports, there has been a decline in Winnipeg's aging rental units every year since 2003, although there has been some rehabilitation of the private stock, much of it through the publicly funded Affordable Housing Initiative. In older neighbourhoods, infill houses dot streets t...
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