Canadian Execs Hungry For M&A


    Canadian executives are hungry for M&A, with 48 per cent expecting to pursue an acquisition in the next 12 months, says an Ernst & Young survey. That’s up from 32 per cent in April 2011. That surge of confidence bucks the global stats where only 31 per cent of respondents globally and 34 per cent of U.S. respondents expect to do the same. These figures dropped from 41 per cent and 34 per cent, respectively, in October 2011. With most of the ingredients now in place for a favourable M&A environment in Canada – plentiful cash reserves, adequate credit availability, and rising economic confidence – deal opportunities are increasing and the quality of potential targets continues to improve. As for acquisitions outside of their local marketplace, Canadian respondents’ top investment destinations include the U.S., China, Hong Kong, Singapore, and India. They identify financial services, life sciences (including healthcare), consumer products, oil and gas, and technology as the most attractive acquisitions.