Here are the top reads,
ROB Magazine interview: Brett Wilson on surviving cancer, his big bet on cannabis and his spirit animal Story
Governance: Aphria Inc. says it is taking steps to improve its corporate governance by adopting a formal policy for how company insiders can invest in other cannabis companies and sit on their boards. Story (Christina Pellegrini)
Discipline: Ontario’s securities watchdog has approved a settlement with Miles Nadal, mirroring a U.S. ban against the former chief executive officer of MDC Partners Inc. Story (Alexandra Posadzki)
Financial products: Investment funds tracking companies described as innovative and disruptive are attracting dollars both in the United States and Canada, but investors need to check out what’s under the hood, as these products can include a broad range of companies. Story (Clare O’Hara)
DEAL WRAP
Mining sector: Kyrgyz gold miner Kyrgyzaltyn has not yet seen or studied an offer by Chaarat Gold Holdings to take over the Kumtor gold mine, its deputy chief executive, Bektur Sagynov, said on Wednesday. Story
Media sector: Billionaire Peter Thiel on Wednesday abandoned his effort to buy the irreverent news website Gawker.com, enabling the Silicon Valley venture capitalist to avoid a possible legal fight over his having secretly funded litigation that led to its demise. Story
Media sector: U.S. media group Comcast submitted a 22 billion pound (US$30.7 billion) bid for Sky on Wednesday, prompting the European pay TV group to drop its support for a lower offer from Rupert Murdoch’s Twenty-First Century Fox. Story
Drug sector: Rare disease specialist Shire said on Wednesday it was willing to recommend a sweetened US$64 billion offer from Japan’s Takeda Pharmaceutical Co to shareholders, in what would be the biggest acquisition of a drug company since 2000. Story
Education sector: Altas Partners, a pioneer of long-life private equity investing, agreed to buy the largest educator of physical-therapy professionals in the United States. The Toronto investor on Wednesday announced it will pay US$400 million to acquire the University of St. Augustine for Health Sciences, an academic institution that provides graduate health-science degree programs, primarily in the field of physical and occupational therapy. PE Hub
WHAT WE’RE READING ELSEWHERE
Canadian venture capital: According to PwC Canada and CB Insights’ latest MoneyTree report, total venture capital funding to Canadian tech companies in Q1 2018 increased 52 percent, with $1.28 billion (US$1 billion) invested. BetaKit
Media sector: Hedge funds don’t make good owners of newspapers — at least if reporters at those newspapers are to be believed. Since 2010 hedge funds and private equity firms have been targeting legacy media companies. The investors acquire newspapers at low prices, then cut costs in the hope of selling at better multiples. But the state of the news business hasn’t improved, leading some firms to continue making cuts, leaving fewer and fewer reporters in place. Institutional Investor
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