Air Canada Suspends Flights Amidst Labor Dispute, Gildan Acquires Hanesbrands for $2.2 Billion, and Hudbay Secures $600 Million for Copper World Project.

Air Canada to suspend flights due to potential work stoppage by flight attendants. Gildan Activewear acquires Hanesbrands Inc. for $2.2 billion, doubling revenues and achieving scale. Hudbay Minerals secures $600 million funding for Copper World project in Arizona. Cenovus Energy in talks with Indigenous groups to jointly buy MEG Energy, competing with a $4 billion takeover bid by Strathcona Resources.

Air Canada has declared an impasse in labor negotiations with its 10,000 flight attendants, warning of potential flight suspensions as early as Saturday. The Montreal-based airline, which transports about 130,000 customers daily, has rejected a union counteroffer seeking "exorbitant" pay increases and has proposed third-party binding arbitration, which the union has refused [1].

Meanwhile, Gildan Activewear is nearing a $5 billion deal to acquire Hanesbrands, the American distributor of intimate apparel brands such as Hanes, Bonds, and Maidenform. The acquisition, expected to be finalized by the end of this week, will include Hanesbrands' debt obligations. The deal comes as Hanesbrands' shares have risen by almost 28% since the potential acquisition was announced, following a 40% decline since the beginning of the year [2].

Hudbay Minerals has secured a $600 million funding deal with Mitsubishi Corp for its Copper World project in Arizona. The deal, expected to close later this year or early next year, will provide $420 million upfront and $180 million within 18 months. The funding will help boost financing and strategic backing for the U.S. copper mine, which is expected to produce 85,000 tonnes of copper per year [3].

Cenovus Energy is in talks with Indigenous groups to jointly buy MEG Energy, competing with a $4 billion takeover bid by Strathcona Resources. The potential deal would see Cenovus Energy partner with Indigenous groups to acquire MEG Energy, aiming to align with the company's commitment to Indigenous partnerships and sustainability goals [4].

References:
[1] https://www.marketscreener.com/news/air-canada-declares-impasse-with-flight-attendants-warns-of-possible-shutdown-3rd-update-ce7c51dad18cf022
[2] https://www.modaes.com/global/companies/gildan-activewear-considers-acquiring-hanesbrands-for-5-billion
[3] https://ca.finance.yahoo.com/news/hudbay-minerals-sell-30-stake-121258447.html
[4] https://www.ainvest.com/news/hudbay-minerals-strategic-turnaround-path-copper-dominance-2508/