Post by Catdaddy on Aug 29, 2007 10:13:20 GMT -5
I still have a gut feeling that we're going to be informed that we either were, are, or will be a part of a merger...nothing concrete to base my feelings on, JMHO. Later,
Catdaddy
Canadian merger activity hits record in 2nd qtr
www.reuters.com/article/marketsNews/idUSN2946542320070829?rpc=44
Wed Aug 29, 2007 11:12AM EDT
VANCOUVER, British Columbia, Aug 29 (Reuters) - Mergers and acquisitions involving Canadian companies surged to a record high of C$202 billion ($191 billion) in the second quarter, data showed on Wednesday.
Even without the boost from two blockbuster transactions -- the purchases of telecommunications group BCE Inc (BCE.TO: Quote, Profile, Research) and aluminum producer Alcan Inc. (AL.TO: Quote, Profile, Research) -- the quarter would still have been a record in terms of deal value, Toronto investment banking firm Crosbie & Co said.
"This market may be looked back upon as the ultimate seller's market," Crosbie Managing Director Colin Walker said in a statement.
The previous quarterly high for Canadian deals was C$89 billion set in the third quarter of 2006.
Crosbie said dealmaking was propelled by both strategic and financial buyers, such as private equity groups who have become very active purchasers in the past two years, helped by the availability of cheap finance, especially debt.
Although 11 of the top 15 deals did not involve private equity groups, they accounted for more than a third of the quarter's deal value.
Looking ahead, Walker said the recent tightening of easy credit and troubles in credit markets, especially in the United States, could dampen M&A activity.
"The subprime mortgage situation and disruption in credit markets will certainly have some impact on M&A...," he said.
"The good news is that, so far, there appears to have been little visible impact on the real economy".
($1=$1.06 Canadian)
© Reuters 2007. All rights reserved.
Catdaddy
Canadian merger activity hits record in 2nd qtr
www.reuters.com/article/marketsNews/idUSN2946542320070829?rpc=44
Wed Aug 29, 2007 11:12AM EDT
VANCOUVER, British Columbia, Aug 29 (Reuters) - Mergers and acquisitions involving Canadian companies surged to a record high of C$202 billion ($191 billion) in the second quarter, data showed on Wednesday.
Even without the boost from two blockbuster transactions -- the purchases of telecommunications group BCE Inc (BCE.TO: Quote, Profile, Research) and aluminum producer Alcan Inc. (AL.TO: Quote, Profile, Research) -- the quarter would still have been a record in terms of deal value, Toronto investment banking firm Crosbie & Co said.
"This market may be looked back upon as the ultimate seller's market," Crosbie Managing Director Colin Walker said in a statement.
The previous quarterly high for Canadian deals was C$89 billion set in the third quarter of 2006.
Crosbie said dealmaking was propelled by both strategic and financial buyers, such as private equity groups who have become very active purchasers in the past two years, helped by the availability of cheap finance, especially debt.
Although 11 of the top 15 deals did not involve private equity groups, they accounted for more than a third of the quarter's deal value.
Looking ahead, Walker said the recent tightening of easy credit and troubles in credit markets, especially in the United States, could dampen M&A activity.
"The subprime mortgage situation and disruption in credit markets will certainly have some impact on M&A...," he said.
"The good news is that, so far, there appears to have been little visible impact on the real economy".
($1=$1.06 Canadian)
© Reuters 2007. All rights reserved.
