On Tuesday, the top TSX mover was Progress Energy Resources Corp. (TSX: T.PRQ, Stock Forum). The stock fell 10% and was trading at $19.45 on volume of 9 million. A $6-billion takeover bid of the oil and natural gas production company by State-owned Malaysian company, PETRONAS was denied approval by officials from Industry Canada in Ottawa.
Celtic Exploration Ltd. (TSX: T.CLT, Stock Forum) was the second most active stock on the TSX. It lost 1.37% and was trading at $25.84 on volume of 6.2 million shares. On Oct. 17, Canadian affiliates of U.S. energy giant Exxon Mobil Corp. (NYSE: XOM, Stock Forum) agreed to buy Celtic Exploration, of Calgary, in a transaction valued at $3.1 billion, including assumed debt and spending obligations.
Galway Resources Ltd. (TSX: V.GWY, Stock Forum) was the volume leader on the TSX Venture Exchange. It was up 1.4% and was trading at $2.18 on volume of 2.9 million. The 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 at a significant premium.
The second most active stock on the TSX Venture was Mint Technology Corp. (TSX: V.MIT, Stock Forum). It was down 15% and was trading at $0.055 after 1.7 million shares changed hands. The branded prepaid debit card provider had no related news to explain the high volume of trades.