Canada’s Q2 2025 M&A Landscape

Written By Brent Kraus, Flutra Kacuri, Sabrina Bandali, Zirjan Derwa and Adam Kalbfleisch
July 16, 2025

As we move through 2025, Canada’s M&A landscape reflects a mix of resilience and caution. While overall deal volume has declined, total deal value is rising, with buyers remaining confident in their long-term strategies despite trade uncertainty and shifting market conditions.

Key M&A trends we are tracking include:

  • larger deal sizes, particularly in oil and gas transactions;
  • strategic M&A activity to manage supply chain risks and navigate tariff pressures;
  • disciplined capital allocation supported by stronger balance sheets and active debt markets; and
  • evolving foreign investment rules, including expanded national security reviews under the Investment Canada Act.

With these dynamics in play, Canada presents a stable and attractive environment for dealmaking, offering access to global markets and reliable trade partnerships amid ongoing US and global volatility.

Stay informed with our insights into Canada’s M&A landscape for the year ahead.

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