Updating Leon’s Furniture, Yamana Gold, Northern Orion Resources, Dundeewealth Inc., Ipsco Inc. and Symantec Corp.

Article Excerpt

LEON’S FURNITURE $13.89 (Toronto symbol LNF; SI Rating: Average) (416-243-7880; www.leons.ca; Shares outstanding: 70.9 million; Market cap: $985.3 billion) has split its shares on a four-for-one basis. Leon’s is still a buy. YAMANA GOLD $13.10 (Toronto symbol YRI; SI Rating: Speculative) (416-815-0220; www.yamana.com; Shares outstanding: 353.3 million; Market cap: $4.6 billion) and NORTHERN ORION RESOURCES $6.43 (Toronto symbol NNO; SI Rating: Extra risk) (604-689-9663; www.northernorion.com; Shares outstanding: 154.1 million; Market cap: $990.8 million) are encountering resistance in their joint takeover bid for Meridian Gold, $30.90, symbol MNG on Toronto. Under the three-way deal, Yamana is also offering 0.543 of a Yamana share for each share of Northern Orion. Based on today’s price of Yamana, that represents $7.11 for each Northern Orion share. Meridian feels the price offered by Yamana and Northern Orion is too low, and that the three-way takeover has too many risks and uncertainties. Meridian is looking at other options, including a friendly takeover partner, or a higher price from Yamana and…