stocks in toronto were firmly in the red midday monday weighed down by worries about further aggressive interestrate hikes and a slowing economic climate in the session all canadian sectors were lower led by producer manufacturing and process industries valens co shares were down after it announced a merger with sundial growers inc in an allstock deal valued at about 138 million canadian dollars us1062 million at midday canadas sptsx composite index was 08 lower at 1994415 and the bluechip sptsx 60 was down by 08 at 120834 valens shares fell by more than 11 to c111 after it said sundial agreed to buy valens offering 03334 of a common share for each valens share implying a consideration of c126 for each valens share bausch health cos shares fell 17 to c696 after it said it continues to forge ahead with the separation of its eyehealth business bausch  lomb corp and said it has hired financial and legal advisers to assist in evaluating potential strategic alternatives link administration holdings ltd shareholders have approved the acquisition of the company by dye  durham ltd but the proposed transaction still requires regulatory approval before it can go through dye  durham shares were up 18 to c1659