A signed deal and a finished deal are different things. This morning’s mix makes the gap unusually visible.
MAK pulls the plug on UniUni
TSX-listed MAK Acquisition says it delivered notice terminating its proposed UniUni purchase on October 20. MAK says UniUni exceeded an agreed cumulative pre-tax loss limit and the cure period expired on October 19 without a cure.
That is MAK’s account of the breach. It says the transaction will not proceed and is withdrawing its preliminary prospectus. The owner lesson: operating limits between signing and closing deserve attention alongside the headline price.
Northguard buys a foothold
Northguard’s October 20 launch announcement disclosed its purchase of Quebec mortgage lender Wiseday. The price and exact closing date were not provided.
Northguard says Wiseday brings origination experience and Quebec broker relationships; its team will lead origination in Quebec and Atlantic Canada. A national rollout is planned throughout 2027. There’s a useful distinction here: acquiring a team and relationships gives an expansion plan a starting point, not a completed national footprint.
Quick hit: a port exit with a wait
CPP Investments and OMERS agreed to sell their respective 33.9% and 30.0% stakes in Associated British Ports to an IFM-managed fund. Terms were not disclosed. The Canadian pension investors expect completion in the first half of 2027, subject to shareholder and regulatory approvals. This is an agreed exit from a UK business, with closing still ahead.
October 20 context: shares pay for energy assets
Olenox disclosed completed purchases of Wildboy Holdings, with northeastern B.C. gas assets, and IPD Industries, a Texas power-development platform. The combined US$21.7 million price was paid almost entirely in preferred shares.
Seller securities can convert into common shares, subject to limits and lock-ups. Further development depends on financing and approvals. The exact closing date and release timezone were not established.
Reporting window: October 20, 7:21 a.m. to October 21, 7:08 a.m. Toronto time. Selected developments, not a market census; the Olenox item is separately labelled dated context.
For general information and education, not legal, tax, investment or valuation advice. Examples are illustrative and do not predict your business’s value, financing terms or sale outcome. Consult qualified advisers about your situation.
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