Torys named top Canadian M&A firm by deal value in Globe and Refinitiv report
Torys has been named the top M&A law firm by deal value in Canada year-to-date, working on 21 transactions worth $29.2 billion.
The Globe and Mail, reporting on data provided by Refinitiv, said M&A was the one bright spot for Canadian capital markets in the last quarter. “Canadian companies were involved in $62.8 billion worth of takeovers in the second quarter of 2022, up 7 per cent from the same period in 2021. Globally, last year set records for M&A activity,” it said.
These robust M&A numbers are despite the 78% decline from the same period a year ago with Canadian companies selling just $2.8 billion of stock in Q2 this year, in addition to a decline in corporate finance activity across Canada in the last three months.
But despite strong M&A numbers, takeover experts told the Globe the pace of M&A activity can only continue if the economic and geopolitical outlook stabilizes.
“Uncertainty is never good for M&A activity,” said co-head of Torys’ M&A practice John Emanoilidis.
John said that deal-making activity has been “resilient”, in part because private equity funds and pension plans see opportunities to put capital to work.