Merger and acquisition activity in Canada took a sizeable step up in Q4 compared to Q3, but was down for 2012 as a whole when compared to 2011. During the quarter, both deal value and volume both rose appreciably in Canada to bring in the best quarter of the year. However, for 2012 as a whole, total deal value in Canada was 36% lower when compared to 2011.
On a global scale, M&A activity took a smaller step up in Q4 compared to Q3, and was also slightly higher for 2012 as a whole when compared to 2011. Globally, no quarter came close to matching Q1, by far the global industry’s best quarter for the year. For 2012 as a whole, total deal value globally was 4% higher when compared to 2011.
To post this positive result for the quarter, the M&A market had to buck declining gold and copper prices, and a dramatic quarter that included a US presidential election and the impending fiscal cliff.