Cad Review

Cad Review

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CAD: Canada's largest publicly traded drug-maker agreed to buy an Arizona-based pharmaceutical company for USD2.6bn cash. The transaction is expected to close in the first half of 2013. There is so far little attention being paid to the Quebec general election and an outcome in line with the general expectation and recent polls (Parti Quebecois winning, but without an overall majority) would leave CAD unmoved.
-Even with an outright majority, PQ would be unlikely to push for a quick ballot on independence and such an outcome would be less damaging than in the past. Voting ends at 20:00 ET and the results are expected shortly thereafter.


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