HEADLINES
Sleep Number Files for Bankruptcy, Plans to Combine With Sleep Country Canada
Mattress maker Sleep Number SNBR has filed for chapter 11 bankruptcy with a deal in hand to be acquired by Sleep Country Canada for $415 million.
Sleep Number said Sleep Country Canada, which was taken private in 2024 by Canadian insurance-focused conglomerate Fairfax Financial, has agreed to act as the stalking horse, or lead, bidder in a bankruptcy court-supervised sale process for the Minneapolis company.
Sleep Number said its stores will remain open and operating during their regular business hours and that its online channel is accepting new orders during the bankruptcy process, adding that it expects to secure up to $260 million of debtor-in-possession financing to support its business.
The Wall Street Journal earlier this month reported that Sleep Number was preparing to file for bankruptcy as it grappled with a high debt burden and deteriorating financial performance, and that it was aiming to use the chapter 11 process to complete a reorganization that would keep its business intact.
Stack Capital Falls Despite Boost in Value of SpaceX Stake Post-IPO
Stack Capital Group, which owned a small stake in SpaceX before it went public, traded lower even as the rocket maker's newly listed shares surged.
Shares of Stack fell 15.3% to C$24.89.
The small Canadian investment firm disclosed its SpaceX position in prior filings, including an additional $3 million in the second quarter of 2025 when the company's valuation was around $400 billion. The company invested a total of $8 million into SpaceX.
SpaceX on Friday launched its initial public offering, with the stock settling 19% higher at $161.11, propelling its market capitalization to around $2.1 trillion--and bringing Stack Capital's stake along with it.
Scotiabank to Buy Outstanding Stake in Scotia Group Jamaica for C$500 Million
Bank of Nova Scotia moved to take full control of its Jamaican bank as part of a push to optimize capital and bolster the efficiency of its operations.
The bank, one of the largest in North America by assets, said it made a proposal to buy all shares it doesn't already own of Scotia Group Jamaica for about C$500 million.
Scotiabank has operated in the Caribbean since 1889 with the opening of an office in Kingston, Jamaica, aimed at supporting growing trade. The Kingston branch was the first of any Canadian bank to open outside the U.K. or the U.S., and opened its first branch in Toronto where it now has its executive offices.
TMX Group to Buy RAFI Indices for $490 Million
TMX Group has struck a deal to buy index provider RAFI Indices for $490 million, a move that is expected to triple assets under indexing.
The parent of the Toronto Stock Exchange said after the market closed Thursday that it has reached an agreement to acquire RAFI from its founder, Research Affiliates Global Holdings.
The addition of RAFI will expand the equity portfolio coverage of the Canadian company's TMX VettaFi arm, increasing assets under indexing to about $263 billion from $81 billion. TMX also expects the acquisition will lift adjusted earnings per share within the first year of the deal closing, excluding any synergy benefits.
RAFI specializes in constructing, publishing and licensing indexes, and currently offers more than 90.
MDA Space Renews U.S. Air Force Global Procedure Designer Contract for Up to $43 Million
MDA Space has secured a renewal of its long-running contract with the U.S. Air Force for its Global Procedure Designer software worth up to $43 million through 2031.
The Canadian space technology company, through its subsidiary 49North, was awarded an indefinite-delivery, indefinite-quantity contract to provide operations support, help desk services, and software sustainment to the air force.
The contract has a ceiling value of up to $43 million through June 2031, with an initial fiscal 2026 funding obligation worth about $4.7 million, the company said Friday.
The renewal extends a more than 25-year relationship between 49North and the U.S. Department of Defense, with the agreement providing a framework to meet evolving aviation regulations, cybersecurity requirements and military operational needs.
Triple Flag Precious Metals Raises Outlook After Buying Australia Gold Stream for $440 Million
Triple Flag Precious Metals has acquired a gold stream on the producing Ravenswood gold mine in Australia for $440 million in cash.
The royalty company said that it has signed an agreement to acquire a gold stream on the Ravenswood open-pit gold mine in Queensland, with the first delivery of gold set for the third quarter of this year.
As part of the agreement, Triple Flag will acquire a gold stream equal to 5.5% of payable gold form the mine, with the rate stepping down to 3.75% once 194,200 ounces have been delivered, and then again to 2.5% after 253,000 ounces.
The company will make payments equal to 10% of the spot gold price for each ounce delivered until the fist threshold is met, and 20% thereafter.
Roots 1Q Loss Widens on Higher Costs
Roots' fiscal first-quarter loss widened as costs related to its new distribution partnership and ongoing strategic review offset higher sales.
For the three months ended May 2, the Canadian clothing retailer posted a widened net loss of C$10.1 million, or C$0.26 a share, compared with a loss of C$7.9 million, or C$0.20 a share, in the comparable quarter a year earlier.
Costs in the quarter were higher, related to its strategic review and changing distribution partners.
Adjusted loss before interest, taxes, depreciation and amortization widened slightly to C$7.4 million from last year's adjusted Ebitda loss of C$7.1 million.
TALKING POINT
Ottawa Introduces Law Requiring Shippers to Prove Imports Are Free From Forced Labour
By Steven Chase of the Globe and Mail
Prime Minister Mark Carney's government is proposing a new law to block imports of forced labour that would put the onus on shippers to prove their goods are free of coerced work.
This bill was tabled nine days after the U.S. threatened a new tariff on goods from dozens of countries including Canada for their alleged failure to stop imports of forced labour.
Bill C-35, tabled Friday, would allow the Foreign Affairs Minister to designate on a list specific goods, producers, countries or regions where there are "reasonable grounds to suspect" forced labour is taking place.
The legislation would empower customs officers to stop shipments associated with listed targets for up to 90 days.
There is no proposed list yet. It would have to be drawn up in the future after the legislation passes.
Importers of these listed goods must, on request, provide Canada Border Services Agency information to demonstrate their products are free of forced labour. If they don't, the goods are automatically deemed prohibited, the bill said.
Last week, the Trump administration said it would impose tariffs on 60 countries, including Canada, for allegedly not doing enough to address forced labour in their supply chains. The move was widely seen as a bid to rebuild parts of the administration's tariff wall that the U.S. Supreme Court struck down earlier this year.
Robert Oliphant, Parliamentary Secretary to the Foreign Affairs Minister, denied to reporters in Ottawa on Friday that the threatened U.S. tariffs are what motivated Canada to act. "That is not the principal reason we are doing this now," he said, saying this was part of changes originally planned and announced by the former Trudeau government in 2024 that were never enacted.
However, he said he thinks Washington will like the proposed legislation.
"This will satisfy any concerns that any other country will have, including the United States," Mr. Oliphant said, adding later, "As I look at this law, as I read it today, I am very satisfied that it will be the foundation for a good relationship with the United States."
The legislation would shift the burden onto importers to prove their goods are free of forced labour.
"The importer will be required to give evidence," Mr. Oliphant said, that their products are free of coerced work if they are on "a list of goods which have the potential to be made with forced labour."
Unlike a 2021 U.S. law, the Uyghur Forced Labor Prevention Act, C-35 would not automatically designate any region as presumed to be a source of forced labour. The U.S. law deems any goods from China's Xinjiang region to be made with forced labour and importers are required to prove otherwise.
Expected Major Events for Monday
04:30/JPN: Apr Tertiary Industry Index
04:30/JPN: Apr Revised Retail Sales
06:00/GER: May WPI
08:00/ITA: Apr Foreign Trade EU
10:00/FRA: 1Q OECD Quarterly National Accounts G20 GDP growth
12:15/CAN: May Housing Starts
12:30/CAN: Apr Monthly Survey of Manufacturing
12:30/CAN: Apr Wholesale trade
12:30/US: Jun Empire State Manufacturing Survey
13:15/US: May Industrial Production and Capacity Utilization
14:00/US: Jun NAHB Housing Market Index
All times in GMT. Powered by Onclusive and Dow Jones.
Expected Earnings for Monday
Aberdeen International Inc (AAB.T,AABVF) is expected to report for 1Q.
Canopy Growth Corp (CGC,WEED.T) is expected to report for 4Q.
Coda Octopus Group Inc (CODA) is expected to report for 2Q.
Comtech Telecommunications Corp $(CMTL)$ is expected to report $-0.54 for 3Q.
Dave & Buster's Entertainment Inc $(PLAY)$ is expected to report $0.60 for 1Q.
Domo Inc $(DOMO)$ is expected to report $-0.41 for 1Q.
Keyera Corp (KEY.T,KEYUF) is expected to report for Full year.
Lyra Therapeutics Inc $(LYRA)$ is expected to report for 1Q.
PowerFleet Inc $(AIOT)$ is expected to report $0.00 for 4Q.
Quantum Corp (QMCO) is expected to report for 4Q.
(MORE TO FOLLOW) Dow Jones Newswires
June 12, 2026 16:31 ET (20:31 GMT)
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