The Globe and Mail reports in its Wednesday edition that Bay Street bounced back in 2025, with stock sales, corporate borrowing levels, and merger and acquisitions all finishing at multiyear highs. The Globe's Jameson Berkow writes that while more than $303-billion (U.S.) worth of corporate takeovers involving Canadian companies captured most of the headlines, the resurgence of Canada's long moribund market for raising money by issuing new shares was the unsung success story of the year. Canadian public companies issued a combined $31.4-billion in new shares in 2025, according to LSEG Data & Analytics. That is more than double the $15.5-billion worth of stock issued in 2024 and just 2 per cent shy of average equity issuance levels over the previous 10 years. More than half of total annual stock sales – $16.6-billion – took place in the final three months of the year, marking the best fourth quarter for Canadian equity issuance since at least 2010. Several large transactions -- including billion-dollar-plus sales from Restaurant Brands International and GFL Environmental in November and a $842-million acquisition financing deal from WSP Global . in December -- helped propel issuance levels to all-time highs.