Atrium Innovations (T.ATB) up 24.5% on takeover news: Canadian market movers

Elizabeth Walters Elizabeth Walters, Stockhouse
0 Comments| November 29, 2013


Here are the most active stocks on Friday mid-morning on the TSX and TSX Venture Exchange.

On Friday, the top TSX mover was Atrium Innovations Inc (TSX: T.ATB, Stock Forum). It rose 24.5% and was trading at $24.38 on volume of 2.2 million shares.
 
Today, the science-based natural health products developer announced that it has entered into a definitive arrangement agreement with a company backed by the Permira funds whereby Permira, a European private equity firm, will acquire all the issued and outstanding common shares of Atrium, other than the shares to be rolled over by Fonds de solidarité FTQ and Caisse de dépôt et placement du Québec (CDPQ), for $24.00 in cash per share. Upon completion of the transaction, Atrium will be jointly owned by the Permira funds (75%), the Fonds (12.5%) and CDPQ (12.5%), before management equity programs.
 
Crew Energy Inc. (TSX: T.CR, Stock Forum) was the second most active stock on the TSX. The stock was up 0.7% and trading at $5.71 on volume of 2.1 million.

On November 12, the oil and gas company presented its operating and financial results for the three and nine-month periods ended Sept. 30, 2013. Crew's third quarter funds from operations increased 7.0% over the third quarter of 2012 to $42 million or $0.35 per share. Excluding the impact of the company's hedging program, funds from operations were $51.6 million or $0.43 per share. Funds from operations were negatively impacted by a $9.6 million ($3.71 per barrel of oil) realized hedging loss resulting from losses on the company's West Texas Intermediate (WTI) and Western Canadian Select (WCS) risk management program. 
 
Belvedere Resources Ltd. (TSX: V.BEL, Stock Forum) was the volume leader on the TSX Venture Exchange. It lost 33% and was trading at $0.01 on volume of 3.8 million.
 
The junior miner had no related news to explain the high volume in trading.

The second most active stock on the TSX Venture was LX Ventures Inc. (TSX: V.LXV, Stock Forum) It slipped 6.9% and was trading at $0.80 after 2.8 million shares changed hands.

Today, the technology-focused company announced that Mobio, a free fan directed content platform, signed on Brody Jenner as a social media influencer. Jenner is a an American TV personality and model who rose to prominence after being cast in reality television series including: The Princes of Malibu, The Hills and recently returned to reality television after being cast in Keeping Up with the Kardashians during the eighth season.
 


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