U.S. banking giant JPMorgan Chase & Co. (JPM) was Canada’s top adviser on mergers and acquisitions (M&A) in 2022.
It was the first time since 2017 that JPMorgan Chase was the top M&A advisor in Canada. In all, the New York-based bank advised on 31 deals involving Canadian companies for a combined value of $73.6 billion U.S., according to data from Bloomberg Markets.
The total value of all Canadian M&A deals in 2022 was $331.7 billion U.S., down 25% from a record $440 billion U.S. in 2021.
Despite stock market volatility, Canada’s M&A volume in 2022 was higher than the five-year average.
The largest M&A deal announced in 2022 involved Nielsen Holdings agreement to be taken private by a group that included Brookfield Asset Management (BAM) for $16 billion U.S.
That was followed by Toronto-Dominion Bank’s (TD) $13.4 billion U.S. acquisition of First Horizon (FHN), and Royal Bank of Canada’s (RY) $9.9 billion U.S. purchase of HSBC Holdings’ (HSBA) Canadian unit.
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