2 Min Read
Dec 16 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.
** Suncor Energy Inc urged Canadian Oil Sands Ltd shareholders to accept a C$4.3 billion hostile takeover as crude prices slump, saying there is little evidence that a rival bid is in the works. (bit.ly/1I8ri0v)
** Bank of Canada Governor Stephen Poloz insisted that the Canadian economic recovery remains on the track outlined by the central bank, despite the latest in a series of disappointing growth indicators. (bit.ly/1ITP3JM)
** Canadian billionaire investor Seymour Schulich, who initially called Suncor's C$4.5 billion offer for Canadian Oil Sands "ridiculous," said he and potentially others in his group of six major investors would be willing to support the deal if Suncor gave them an option to buy more Suncor shares should oil prices rise in the future. (bit.ly/1QrQ4eT)
** Faced with scrutiny over its practice of raising drug prices, on Tuesday, Valeant Pharmaceuticals International Inc said it was entering a 20-year agreement with Walgreens Boots Alliance Inc, to reduce wholesale prices by 10 percent for all dermatological and ophthalmological products and sell certain branded drugs at generic prices with an average discount of more than 50 percent. (bit.ly/1QrQ9ip)
** The Bank of Canada is piling on more concerns over the country's housing market, warning that rising household debt and regional price imbalances could lead to an "adverse shock" to the sector. (bit.ly/1ZbA7ed) (Compiled by Mansi Goenka in Bengaluru)