![]() CI’s share-swap bid, which amounted to $20.25 per share, electrified the market.īy Nov. will join CI and Scotiabank in the bidding.Īll this buzz, notes Karen Huo, an analyst who follows the company for Montreal-based National Bank Financial, did remarkable things for a stock that had plummeted around 25% when the crisis at Dundee Bank became public. of Montreal and Toronto’s Manulife Financial Corp. But rumours have swirled ever since that Power Financial Corp. ![]() Dundee never formally responded to the CI offer, and CI itself announced in late October that it would not circulate a takeover circular. The announcement that Scotiabank had gained a major stake triggered a hostile takeover bid from Toronto’s CI Financial Income Fund on Sept. 18, the Goodmans announced that Bank of Nova Scotia would buy Dundee Bank for $260-million, as well as an 18% share in DundeeWealth, for a total of $608 million - providing a much-needed cash infusion for a company facing substantial losses. On that news, a quarter of Dundee’s market capitalization evaporated. Launched as part of the Goodmans’ strategy to diversify Dundee into a mutual fund, banking, insurance and mortgage powerhouse, Dundee Bank had stumbled badly with a $380-million investment in asset-backed commercial paper and other structured investment products. The furor around DundeeWealth - which has $62-billion in assets and more than 150 employees in its investment banking arm, along with a sales force of 600 stockbrokers and 1,200 financial planners - began last August when Dundee revealed deep problems in its banking unit, Dundee Bank. But Hueniken also notes that Ned Goodman, who controls the company through a controlling minority stake, “has neither said it’s for sale, nor that it’s not for sale.” “Bids have been submitted - we know that,” says Horst Hueniken, who follows the company for investment bank Thomas Weisel Partners Group in Toronto. Best of all, as an Wealth Tracker user, personal service is only a click away - whenever you have questions or need assistance, Wealth Tracker can connect you to a Financial Advisor in your area.Five months after takeover talk began around Toronto-based DundeeWealth Inc., Canada’s largest independent brokerage, several Bay Street analysts who track the company now say they’re uncertain the company was ever actually for sale, at any price. Additionally, the application can help you better understand certain investments through access to research reports from our nationally recognized equity research partner. When you register for Wealth Tracker, you can complete a risk profile and see if your holdings are aligned with your financial goals, tolerance for risk, and time horizon. The software will track your net worth, monitor your progress toward your goals, perform detailed analysis on your investment portfolio and illustrate your asset and sector allocations. Use Wealth Tracker to securely view all of your financial information your investment and retirement accounts, checking and savings accounts, mortgage, student loans and other loans, credit cards, and more in one place. Available via mobile, tablet, or any computer, Stifel Wealth Tracker is a powerful free service designed to give you a big-picture view of your financial situation so that you can chart a course for your future.
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