Last year saw a 44% increase over 2006 to complete C$370-billion worth of deals, and 1,941 transactions in total, thereby making 2007 a record year for the Canadian M&A market. Some of the country’s largest deals ever, such as the C$51-billion buyout of BCE Inc. (BCE) and a C$40-billion deal for Alcan Inc. (AL (defunct)), were major contributors, according to the Financial Post Crosbie: Mergers & Acquisitions in Canada report for the fourth quarter of 2007.
There were 60 “mega-deals” or transactions in excess of C$1-billion worth C$275-billion last year, which compares to 51 valued at C$172-billion in 2006.
Leading the way in the fourth quarter were deals in the financial services sector. TD Bank’s (TD) C$8.5-billion purchase of Commerce Bancorp (CBH) and Royal Bank’s (RY) C$2.2-billion acquisition of RBTT Financial were the largest.