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Gold/Mining/Energy : Microforum (MCF:TSE) -- Ignore unavailable to you. Want to Upgrade?

To: Link Lady who wrote (2629)	6/15/1999 10:24:00 AM
From: James R.	Read Replies (2) \| Respond to of 3896

I don't know how to take a news item from a news wire and transfer it here, however there is a news release on Canada Newswire if interested.

To: Link Lady who wrote (2629)	6/17/1999 12:37:00 PM
From: maps	Read Replies (1) \| Respond to of 3896

To All: biz.yahoo.com Thursday June 17, 11:03 am Eastern Time National Bank of Canada to buy First Marathon TORONTO, June 17 (Reuters) - First Marathon (Toronto:FMSa.TO - news), the last of Canada's large independent brokers, fell prey to a big bank on Thursday after National Bank of Canada (Toronto:NA.TO - news) said it intends to buy the Toronto-based brokerage in a cash and share transaction. National Bank said in a press release that it will buy all the shares of First Marathon in a C$26-a share transaction worth C$712.4 million. All operations of First Marathon, including its securities operations, will be merged with National Bank's brokerage arm, Levesque Beaubien Geoffrion Inc., to form a new national investment firm. It will have two divisions -- a national retail firm and a national wholesale firm, both of which will have operating units in both Montreal and Toronto. Under the terms of the agreement, First Marathon shareholders will have the option of receiving C$26 in cash or 1.3 common shares of National Bank for each Class A non-voting share or Class C voting share they hold. ''This is a strategic transaction that benefits both parties,'' Jean Turmel, president, financial markets, treasury and investment banking at National Bank, said in a press release. ''The transaction will enable the National Bank to reinforce its capabilities and its network in the key areas of corporate finance and institutional brokerage.'' This takeover bid comes less than a month after an earlier attempt to reach an agreement collapsed, reportedly over price. ($1=$1.46 Canadian) More Quotes and News: First Marathon Inc (Toronto:FMSa.TO - news) National Bank of Canada (Toronto:NA.TO - news) Related News Categories: Canadian Market News, US Market News