Canadian M&As increase in Q2

Even with a 62% increase in M&A activity, Canada has a very quiet second quarter, according to the latest PwC Capital Markets Flash.

Real estate is still the top target industry by value in the second quarter 2013. But food retail and forestry come up and second and third.

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Deal volume was up 10% and deal values increased 23%.

Acquisitions like Sobeys’ $5.8 billion purchase of Safeway’s Canadian assets was the quarter’s biggest deal. Two deals over $1 billion in the forestry industry resulted in these two sectors becoming the most active industries by deal value.

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Q2 also saw Bell finally obtain regulatory approval for its acquisition of Astral Media, in exchange for a commitment to support the Canadian broadcast sector to the tune of almost $250 million. As well, Verizon posted a $700 million bid for WIND Mobile.

Pension funds were one of Canada’s most active sectors. Varied purchases include a German airport, a European movie theatre chain and Australian real estate.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.