PwC Capital Markets Flash

Q2, 2013

Despite a 62% increase in M&A activity in value terms over the previous quarter, Q2 2013 was the second quietest quarter since Q2 2010. Deal volume was only up 10% - the value increase being driven by the return of big deals (over $1 billion) and an increase of 23% in average reported deal values excluding the big acquisitions. .

While real estate continued to be the top target industry by value in Q2, Sobeys’ C$5.8 billion purchase of Safeway’s Canadian assets – the quarter’s biggest deal – and two acquisitions over $1 billion in the forestry industry, resulted in these two sectors becoming the second and third most active industries by deal value. Loblaws’ C$12.4 billion acquisition of Shoppers Drug Mart stores announced on July 15 will keep the food retail among the top sectors in Q3.

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