CEOs at Canada's largest utilities would be reluctant to admit it publicly, but for the past year, they've taken advantage of what they privately like to call "lazy" balance sheets at their U.S. rivals to stage a series of bold takeovers.
Led by massive acquisitions from pipeline companies Enbridge and TransCanada, six domestic businesses spent approximately $87-billion in the past 12 months snapping up U.S. firms. These are transformative deals, as each buyer vaulted to the leading ranks of North American utilities. For Canadians, the takeovers are a refreshing reverse of the trend that saw local champions in sectors such as mining and manufacturing picked off by foreign buyers.
Why are the Canadians suddenly stepping up? And can domestic CEOs in other sectors, all of whom aspire to grow internationally, steal a page from the utilities? Story
DAILY DEALS
BHP Billiton Ltd. has put one of its smaller Chilean copper mines on the chopping block, according to people familiar with the matter, in what will likely be a difficult sale. Story
ON THE MOVE
The Canada Pension Plan Investment Board is making two new additions to its board, as two veteran directors prepare to exit. Story
IN CASE YOU MISSED IT
Jeff Lewis: STEP Energy Services mulls IPO as deal activity in the oil patch picks up Story
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