The Financial Post reports in its Wednesday, April 21, edition that Canadian deal making is extending its boom, as a potential bidding war between Canadian National Railway and Canadian Pacific Railway contributes to a tripling in mergers and acquisitions volumes. A Bloomberg dispatch to the Post reports that companies from Canada have been involved in $184-billion (U.S.) of transactions this year, including agreed deals and more preliminary proposals. That is up 198 per cent on the same point in 2020 and the most for any corresponding period on record, Bloomberg data show. The latest blockbuster bid came Tuesday, when CN made a $30-billion (U.S.) offer for Kansas City Southern. Brookfield Asset Management reached a $6.5-billion agreement this month to buy out minority investors in its listed real estate arm. Just last week, Bank of Montreal announced the sale of some overseas asset-management operations to Ameriprise Financial for $859-million (U.S.).
© 2021 Canjex Publishing Ltd. All rights reserved.