Canadian M&A activity plummets in first half

Canadian oil and gas merger and acquisition (M&A) activity showed a dramatic decline during the first half of 1999, compared with the first halves of the last 3 years. Click here to enlarge imageM&A transactions for the period totaled just $2.9 billion (Canadian), a 71% decline vs. the $10.1 billion spent during first-half 1998 (see chart). It is also the lowest first-half total since the first 6 months of 1995, when Canadian M&A activity totaled $2.3 billion.These were among the findings of Sayer Securities Ltd., Calgary, in a recent analysis.Sayer expects M&A activity to increase for the second half of 1999. In fact, by late August, third quarter M&A transactions had already surpassed ...

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