Uncovering Opportunities - Canadian M&A in 2009
According to Stikeman Elliott's recently published M&A outlook for 2009, the Canadian M&A market will continue to be affected by tight credit, lower valuations based on lower multiples (driven in part by lower earnings and difficulties in leveraging acquisitions) and a Canadian dollar that is likely to remain significantly below par (in the 75-85¢ U.S. range). Also affecting the Canadian market will be political and regulatory developments – not only domestically but in the U.S., Europe and Asia. While blockbuster deals are likely to be few and far between, opportunities will inevitably present themselves, especially to cash-rich acquirors. When all is said and done, the theme heading into 2009 is: "Cash is king – it’s a buyer’s market once again."
"Uncovering Opportunities - Canadian M&A in 2009" is available here.
