Top News Today/Canada: Aurora Cannabis to Review Takeover Bid From Curaleaf

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Aurora Cannabis to Review Takeover Bid From Rival Curaleaf

Aurora Cannabis is reviewing an unsolicited offer from rival cannabis company Curaleaf Holdings to be taken over for about $272 million, or $4 a share.

The Canada-based Aurora said that it received letters from Curaleaf in late June and early July outlining a potential deal and that it would assemble a special committee of independent directors to consider the current proposal.

However, Aurora pushed back on claims by Curaleaf, one of the biggest cannabis companies in the world, that it had refused to engage in negotiations for a potential buyout.

"Aurora's lead independent director did correspond with Curaleaf's CEO, including as recently as July 24, 2026, noting that Aurora was focused on continuing to execute on its business plan over the short to medium term, and did not discourage an ongoing dialogue between the parties going forward," the company said.

Curaleaf's Bid for Aurora Aligns with International Growth Strategy

Pet Valu Offsets Sluggish Store Traffic With Targeted Discounts, Cost Controls

Pet Valu Holdings is finding ways to squeeze sales growth out of fewer store visits as Canadian pet owners tighten their belts.

The Markham, Ontario-based pet products company tapped into efficiency gains from its multi-year reworking of its supply chain, while shifting away from broad price cuts in favor of targeted discounts like its "Item of the Month" program. At the same time, the retailer sold 11 corporate stores to franchisees during the quarter to reduce overhead.

The playbook paid off. While same-store transactions dropped 1.4% in the second quarter versus the prior-year period as shoppers visited less frequently, average spending per visit rose 1.2% as loyal customers stocked up on pet consumables during the trips they did make.

Pet Valu shares rose 9.3% to C$20.54 on Tuesday.

Barrick Names Former Randgold Executive Sebastiaan Bock as CEO of its Rest of World Division

Barrick Mining has named former Randgold Resources executive Sebastiaan Bock as chief executive officer, rest of world, a newly created position within the company that will see him run its Africa, Middle East, Latin America, and Asia Pacific mines, The Globe and Mail reported.

Bock joined the company in 2019 as chief financial officer, Africa and Middle East, after Barrick acquired his previous employer, Randgold Resources. In 2022, he was appointed chief operating officer for Africa and Middle East after the retirement of Willem Jacobs.

Last year, Bock was part of a team that solved a long-running dispute in Mali that had seen Barrick's production idled for an extended period of time.

Cineplex Swings to Second-Quarter Profit as Revenue Grows

Cineplex swung to a profit in its second quarter as moviegoers flocked to the big screens in larger numbers and spent more at the concession counter, building momentum into a third quarter powered by blockbuster draws like The Odyssey.

The Canadian movie theater chain swung to a net income of C$7.8 million, or C$0.12 a share, compared with a loss of C$2.2 million, or C$0.03 a share, in the comparable quarter a year ago.

According to FactSet, analysts were expecting C$0.21 a share.

DRI Healthcare Trust Collects $178 Million for Ekterly Royalty Exit

DRI Healthcare Trust has cashed out of its royalty investment in the drug Ekterly, collecting about $178 million.

The Toronto-based healthcare fund said it exercised a contractual option to sell back its royalty rights following Chiesi Group's takeover of KalVista Pharmaceuticals, the developer of Ekterly.

Shares of DRI Healthcare rose 3.6% to C$18.66 on Tuesday.

Electrovaya Shares Fall on Lower Outlook Amid Customer Delays

Electrovaya shares fell after the company gave a lower outlook due to customers delaying their timelines.

The stock dropped 21.2% to C$10.18.

The lithium-ion battery company now expects full-year normalized revenue to be $70 million to $73 million, compared with its previous projection that revenue would exceed $83 million.

Organigram Global Swings to Third-Quarter Profit as Sanity Group Acquisition Drives Revenue

Organigram Global swung to a profit in its third quarter, driven by a revenue boost from its recent acquisition of Sanity Group.

The Canadian cannabis company posted net income of C$105.5 million in the three months ended June 30 compared with a loss of C$6.3 million in the comparable quarter a year ago.

Shares rose 18.2% to C$1.69.

CN Rail Tops Prior Grain Record on Strong Global Demand, Smooth Operations

Canadian National Railway has set a new all-time company record for Western Canadian grain movement during the 2025-2026 crop year on the back of strong global demand and smooth network operations.

The Montreal-based railroad shipped 33.8 million metric tons of grain from Western Canada over the full crop year, capping off the crop year with a record-setting July where it moved 2.62 million tons of grain.

The performance surpassed CN Rail's previous record of 32.6 million metric tons, set in the previous crop year. The company credits close supply chain coordination and its operating plan which unlocked incremental capacity and value.

New U.S.-Canada Bridge Accounts for Nearly Half of Detroit-Windsor Traffic, Data Agency Says

A preliminary batch of data suggests the new politically contentious bridge connecting Canada and the U.S. accounted for over 40% of motor-vehicle traffic traveling across the Detroit River over a five-day period in late July.

The figures from Statistics Canada indicate that between July 27 and July 31, 37,000 automobiles used the Gordie Howe International Bridge to travel between Detroit and Windsor, Ontario. The data-gathering agency added that during the same time period, 52,700 automobiles used either the Ambassador Bridge or the Windsor-Detroit Tunnel, which are the other crossings that connect the two auto-focused cities.

Canadian Trips to U.S. Rose in July Amid Depressed Levels

TALKING POINT

Ottawa Mounts Full-Court Press for U.S. Trade Deal Ahead of Tariff Deadline

By Adrian Morrow and Marieke Walsh of The Globe and Mail

Canada is launching a full-court press for a U.S. trade deal, with Canada-U.S. trade minister Dominic LeBlanc jetting to Washington on Tuesday to meet with Jamieson Greer, the Trump administration's trade chief, for the third time in as many weeks.

LeBlanc will be joined by Janice Charette, Canada's chief negotiator, who spent the weekend hunkered down at the Canadian embassy working with a small army of trade negotiators and experts. The trio and their entourages are meeting Tuesday afternoon at the Winder Building, the U.S. Trade Representative's offices near the White House.

The aim is to close a deal before Aug. 19, when the latest round of U.S. President Donald Trump's tariffs is set to take effect.

As The Globe and Mail has previously reported, the two sides are aiming for an "interim" agreement in which Canada would agree to a long list of U.S. demands in exchange for some relief on Trump's current tariffs. Canada is also hoping to avoid the coming tariffs.

The U.S. President has imposed tariffs of 50% on steel and aluminum, 25% on autos, 10% on lumber and 25% on wooden furniture under Section 232 of the Trade Expansion Act of 1962.

Last month, he unveiled plans to levy 50% tariffs on US$20 billion worth of other items, including alcohol, dairy products and electronics under Section 338 of the Smoot-Hawley Tariff Act of 1930. This lit a fire under negotiations, which had previously dragged for months, and activity has accelerated briskly since then.

In the current talks, the U.S. is demanding that Canada accept export quotas on steel and aluminum, remove retaliatory tariffs on U.S. products, such as autos, return American alcohol to store shelves, remove provincial procurement restrictions, and agree to Washington's interpretation of how dairy quotas should be allocated.

In exchange, the two sides have discussed the U.S. lowering the 232 tariffs on steel and aluminum but leaving some level of tariff in place. Canada is also pushing for relief on the autos and forestry tariffs.

If an interim deal is reached, future negotiations are expected to seek agreements on defence and auto rules of origin, including other issues.

Sources with knowledge of the talks who spoke with The Globe have said that, although the contours of a deal have been taking shape, nothing has been agreed to and Trump has not signed off on anything.

The Globe is not identifying the sources as they were not authorized to speak publicly about the negotiations.

LeBlanc had been scheduled to return to the U.S. capital on Monday, but his plane couldn't land in Washington because of turbulence from a thunderstorm, his office said. The plane returned to Montreal, where he had to stay overnight, before flying down on Tuesday morning.

Expected Major Events for Wednesday

06:00/GER: Jul CPI

06:00/JPN: Jul Preliminary Machine Tool Orders

08:00/ITA: Jul CPI

08:00/FRA: Aug IEA Oil Market Report

11:00/US: 08/07 MBA Weekly Mortgage Applications Survey

12:30/CAN: Jun Building permits

12:30/US: Jul CPI

12:30/US: Jul Real Earnings

14:00/US: Jul Online Help Wanted Index

14:30/US: 08/07 EIA Weekly Petroleum Status Report

16:00/US: World Agricultural Supply & Demand Estimates (WASDE)

16:59/GER: Jun Balance of Payments

18:00/US: Jul Monthly Treasury Statement of Receipts and Outlays of the U.S. Government

23:01/UK: Jul RICS Residential Market Survey

23:50/JPN: Jul Corporate Goods Price Index

All times in GMT. Powered by Onclusive and Dow Jones.

Expected Earnings for Wednesday Air Canada (AC.T) is expected to report $0.14 for 2Q.

Altimmune (ALT) is expected to report $-0.16 for 2Q.

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August 11, 2026 16:34 ET (20:34 GMT)