January 25, 2021
After the release of Torys’ Canadian M&A outlook for 2021, M&A partner John Emanoilidis has told Canadian Lawyer that despite a tumultuous 2020, the M&A sector has plenty to be optimistic about moving into 2021.
“Although many businesses put their M&A plans on hold at the beginning of the pandemic, deal activity significantly rebounded in the second half of the year,” the report says.
“Companies quickly returned to M&A to advance their strategic and growth plans, while others sought to capitalize on market dislocations. Parties successfully overcame many challenges in navigating an environment of heightened risk and uncertainty to get deals done.”
The Q1 Torys Quarterly article—written by John and fellow M&A partners Michael Amm and Karrin Powys-Lybbe—outlines that Canadian M&A activity demonstrated resiliency, opportunism and adaptability in the back end of 2020.
John reiterated this point when speaking with Canadian Lawyer.
“There’s no question that the pandemic had a considerable impact on M&A activity last year,” John said.
“Some very good businesses experienced unprecedented shocks, and many companies went into survival mode.
“Dealmakers have adjusted quite quickly to the new normal of doing deals virtually. And we ended up the year with the volume of deals roughly on par with 2019.
"While there are certainly headwinds, there are many reasons to be optimistic, and I think the feeling is that the worst is behind us.”