Updating Dofasco Inc., Fairmont Hotels & Resorts, Inc., Toronto-Dominion Bank, Nova Chemicals Corp., Sleeman Breweries Ltd., Nortel Corp. and FPI Ltd.

Article Excerpt

DOFASCO INC. $71 (Toronto symbol DFS; SI Rating: Average) has accepted a $71.00-a-share takeover offer from Arcelor SA after rival bidder ThyssenKrupp AG decided not to match Arcelor’s offer. However, UK-based Mittal Steel Co. has launched a hostile takeover for Arcelor. Mittal’s bid for Arcelor is unlikely to affect Arcelor’s plan to buy Dofasco. Dofasco shareholders should tender their shares to Arcelor to avoid paying brokerage commissions. FAIRMONT HOTELS & RESORTS, INC. $51 (Toronto symbol FHR; SI Rating: Average) has accepted a $45.00 U.S.-a-share takeover offer from a private investment group. That tops a $41.00 U.S. offer from American investor Carl Icahn for 51% of Fairmont. Icahn has also accepted the new offer. Investors should tender their Fairmont shares to the new bid to get the full $45.00 U.S. TORONTO-DOMINION BANK $61 (Toronto symbol TD; SI Rating: Above average) has completed the sale of the U.S. operations of TD Waterhouse, its discount brokerage subsidiary. TD realized a $1.5 billion gain on the deal, which…

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