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Astral down 16% as BCE bid blocked: Canadian market movers

Elizabeth Walters Elizabeth Walters, Stockhouse
0 Comments| October 19, 2012

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On Tuesday, the top TSX mover was Astral Media Inc. (TSX: T.ACM.A, Stock Forum). The stock plummeted 15.79% and was trading at $39.49 on volume of 3.1 million. The Canadian Radio-Television and Telecommunications Commission blocked BCE Inc.'s (TSX: T.BCE, Stock forum) $3-billion takeover of Astral Media on Thursday, declaring the deal would give too much power to BCE, the country's biggest telecoms company.

Calvista Gold Corp. (TSX: T.CVZ, Stock Forum) was the second most active stock on the TSX. It rose 57.35% and was trading at $1.07 on volume of 2.7 million shares. The mineral exploration company and Galway Resources Ltd. (TSX: V.GWY, Stock Forum), a gold and coal exploration company, announced AUX Acquisition 3 S.A.R.L. and 2346408 Ontario Inc., known as AUX, would acquire all of the issued and outstanding shares of the mining juniors at a significant premium. Galway, the volume leader on the TSX Venture Exchange, was up 32.7% and was trading at $2.11 on volume of 6.7 million.

The second most active stock on the TSX Venture was Bitterroot Resources Ltd. (TSX: V.BTT, Stock Forum). It was unchanged and was trading at $0.15 after 5 million shares changed hands. The mineral exploration company had no related news to explain the high volume of trading.



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