The value of mergers and acquisitions (M&A) in Canada rose 30% to $90.5 billion in this year’s second quarter, according to data from Refinitiv.
Between April and June of this year, the volume of Canada’s M&A activity rose substantially from $69.4 billion in the second quarter of 2022.
Deals in the M&A space were up 158% from this year’s first quarter when $35.1 billion of deals were announced.
Glencore's (GLEN) unsolicited $22.5 billion bid for Teck Resources (TECK.B) was one of the highlights for Canadian dealmaking during Q2 of this year.
Goldman Sachs (GS), BMO Capital Markets (BMO), and Barclays (BCS) took the top three spots in the Canadian financial advisory rankings during this year’s second quarter.
Worldwide, M&A activity during the second quarter rose 27% to $729.5 billion from $574.7 billion during the first three months of the year, but was down from $1.1 trillion a year earlier, according to Refinitiv.
The deal market remains soft globally as higher interest rates make it difficult for companies and private equity firms to borrow the debt needed to finance mergers and acquisitions.
