Canada's M&A Landscape Q3 2024: Creativity in Canadian Deal Making

Written By Kevin Myson and Kimberley Grellinger
October 10, 2024

In the third quarter of 2024, Canada’s M&A market reached its highest deal volume in nearly three years. Large-scale transactions, particularly in the food and telecommunications sectors, fueled this growth, while mid-market activity also saw a notable rise.

Key trends we are tracking for the remainder of 2024 include:

  • continued increase in M&A deal volume, with two of the year's largest transactions announced in Q3;
  • the impact of interest rate cuts by both the U.S. Federal Reserve and the Bank of Canada on deal-making conditions;
  • growing use of creative tools and solutions, such as preferred equity and corporate carve-outs, to bridge valuation gaps; and
  • rising importance of Representations and Warranties Insurance in M&A, especially in the energy and mining sectors.

These developments signal a dynamic and evolving landscape for M&A in Canada, with favorable conditions setting the stage for further activity. Stay ahead of the curve with this Q3 report. 

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Our M&A group spans all industries, particularly those that drive the Canadian economy, such as energy, mining, financial services, technology, agribusiness and manufacturing, among others. Clients benefit from our focus on efficient identification of issues that matter to their business. Our lawyers account for your risk appetite and the commercial realities likely to apply after closing to guide negotiation strategy and structuring.

Bennett Jones has been monitoring Canadian business trends closely and is available to discuss the developments and opportunities shaping the Canadian M&A landscape.

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