Before the fourth-quarter collapse of oil prices, Canadian M&A
activity last year was dominated by big energy-sector deals such as
Spanish oil giant Repsol SA's $8.3 billion bid for Talisman Energy
and Encana Corp's $5.9 billion buyout of U.S. rival Athlon.
According to data released by Thomson Reuters on Thursday, the total
value of M&A deals in Canada in 2014 jumped to $203.1 billion from
$147.2 billion in 2013, with Goldman and its international peers
enjoying a banner year. Goldman advised on deals worth $56 billion,
including Talisman in the Repsol bid.
"Canada has been dominated by cross-border activity this year," said
David Rawlings, head of JPMorgan's Canadian operations. "We feel
like the M&A environment - for energy and other sectors - will
remain constructive in 2015, although the drivers of the activity
may change."
![](http://archives.lincolndailynews.com/2015/Jan/08/images/ads/current/culligan_sda_090414.gif)
The top six spots on the Canadian M&A league tables were captured by
Goldman, Royal Bank of Canada, JPMorgan Chase & Co, Barclays Plc,
Morgan Stanley and Deutsche Bank AG
Bankers at both the large international and Canadian banks remain
optimistic about 2015, despite weak resource prices.
"I think 2015 will be a solid year and it may surprise on the
upside," said Bruce Rothney, head of Barclays Canada.
Despite the few mega deals in which global banks played a
significant role, Canadian banks RBC, Bank of Montreal, Bank of Nova
Scotia, Toronto-Dominion Bank and CIBC advised on the vast majority
of transactions in 2014.
[to top of second column] |
![](http://archives.lincolndailynews.com/2015/Jan/08/images/ads/current/christian_village_lda_061014.png)
Bankers expect an increase in M&A activity in mining, a big sector
within the domestic market, but one that has been hurt by a pullback
in commodity prices over the last two years.
"We are constructive on the outlook for mining," said Daniel
Barclay, BMO's head of investment and corporate banking. "We are not
talking bull market, but we are way past the bottom."
The top law firms advising on M&A deals were Osler, Hoskin &
Harcourt LLP, followed by Skadden and Blake, Cassels & Graydon.
"In terms of M&A activity, I do not think 2014 was an aberration. It
was a departure point for more to come," said Emmanuel Pressman,
head of Osler's M&A group in Toronto.
(Reporting by Euan Rocha and John Tilak; Editing by Peter Galloway)
[© 2014 Thomson Reuters. All rights
reserved.] Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
![](http://archives.lincolndailynews.com/2015/Jan/08/images/ads/current/edward_jones_sda_pollice.png) |