Terasen earned a third-quarter profit of C$4 million, down from C$10.1 million a year ago as the pipeline operator and natural gas distributor was hurt by costs associated with its planned takeover by U.S. energy giant Kinder Morgan.
The pending change at the helm of the company comes as rumours continue to swirl in the market that the Calgary gas giant may be the object of a possible takeover bid by global energy giant Royal Dutch Shell Group.
The Ontario Securities Commission is probing trades in the shares of Nelson Resources ahead of a takeover offer by Russia's Lukoil - this coming after news that an Alberta court has approved the takeover bid for PetroKazakhstan by China National Petroleum.
Oil and gas giant Imperial Oil Ltd. gushed record profits for the third quarter, but its stock price fell by more than nine per cent Thursday as the world price of crude fell and investors drilled the energy sector on the stock market.
French energy giant Total SA remains unsuccessful in its attempts to take over oilsands operator Deer Creek Energy, but still hopes to buy out stubborn minority shareholders without sweetening the bid.
Nelson Resources' minority shareholders raged at management Monday even as Russian energy giant Lukoil claimed that two-thirds of the company's shareholders have agreed to its controversial, $2-billion takeover bid.