Insurers suspend secret merger talks

Article Abstract:

Sun Life Assurance Co. of Canada of Toronto, Ontario, has suspended its secret merger negotiations with Toronto-based Canada Life Assurance Co., after hearing the news that the planned merger will not be approved by Ottawa, Ontario. The two companies were planning to announce their proposed merger within a few weeks before the plan was rejected by the federal government. The proposed merger was rejected because it would have violated the draft demutualization rules issued by the government in late August 1998.

Comment:

Has suspended its secret merger negotiations with Sun Life Assurance

Life Insurance, Direct Life Insurance Carriers, Ontario, Canada Life Assurance Co., Article

Equisure plans big boost to acquisitions

Article Abstract:

Insurance brokerage Equisure Financial Network Inc of North Bay, Ontario, will invest at least C$75 milion to acquire brokerages in 1999, more than twice the record $37.2 million it spent in 1997. The company, which has so far acquired three brokerages in 1999 for undisclosed prices, spent only C$3.6 million on acquisitions in 1998. Equisure posted a profit of C$3 million, or 19 cents per share, on revenue of C$86.7 million per share in 1998.

Insurance Agencies and Brokerages, Insurance Agents & Brokers, Insurance industry, Equisure Financial Network Inc.

Salon operator restyles strategy

Article Abstract:

Regis Corp. of Minneapolis operates the world's largest hair salon network, with more than 10,260 outlets in the United States, Canada and Europe. In November 2004, the company announced that it had bought Hair Club for Men and Women of Boca Raton, Florida in a US$210 million deal that would take Regis into the hair-loss treatment business, including hair weaves and transplants.

Florida, Minnesota, Beauty shops, Beauty Salons, Mergers, acquisitions and divestments, Company acquisition/merger, Regis Corp., Hair Club For Men Ltd.