Genivar Inc.’s $442-million purchase of the U.K.’s WSP Group Plc caps a very busy seven days with almost $7-billion of mergers and acquisitions involving Canadian companies.
Genivar follows CGI Group’s purchase of Logica PLC for $3.1-billion, and the purchase of Q9 Networks by a BCE Inc.-led group for $1-billion, the sale of AGF’s trust business for $242-million and Miranda Technologies Inc.’s acquisition by a U.S. rival for $333-million.
Add in big purchases in prior weeks, including the agreement by Dundee REIT and H&R Reit to buy Scotia Plaza for almost $1.3-billion, and Alimentation Couche-Tard’s blockbuster purchase of a European convenience store chain and it’s clear the M&A pipeline is heating up.
The banks that are getting the most work advising on transactions include RBC Dominion Securities, BMO Nesbitt Burns and Barclays, which is making inroads in Canada after setting up a significant shop a few years ago.
Barclays advised on the Q9 sale, the Genivar purchase, and the Couche-Tard Transaction, while RBC acted on Q9 as well as AGF, and BMO worked on Q9 and Miranda.