Fairness opinions: the regulators have weighed in A focus on the importance of fairness opinions in M&A transactions involving material conflicts of interest and the protection of minority security holders.
The rise of ESG. Geopolitics and investment trends for Canadian deal-makers Watch Dr. Alexis Crow, PwC’s Geopolitical Investing Leader, discuss the rise of environmental social governance (ESG) as one of the greatest investment trends in our generation.
Case study: George Melville sells 50% ownership interest in Boston Pizza International to Jim Treliving After almost 50 years of successful partnership, Jim and George decided to investigate a transaction that would enable George to sell his 50% ownership interest to Jim.
Made in Canada: Mortgage Investment Corporations Investing in Mortgage Investment Corporations (MICs) and their role in the alternative financing ecosystem.
Canadian miners offer lessons in resilience Beginning in the second half of 2016, the Canadian mining sector started to crawl out of the prolonged downturn that started in 2011, when commodity prices peaked and started a long, slow decline. That decline prompted many in the turnaround and restructuring sector to plan for a lot of work in the sector.
Distressed investing—Step 6: Realize deal value Time is of the essence after closing. Ideally, you’ve designed your turnaround plan well before the deal is signed. This leaves you with the room to make the quick and oftentimes difficult decisions that will generate a satisfying return.
Litigation can be inefficient and expensive. Why litigate? Parties want dispute resolution processes that are less costly, less time-intensive – and more aligned to their commercial interests. Minimizing the use of litigation should be a focus. However, are there vested interests standing in the way? What can be done to minimize litigation?
Canadian Economy: A Success Story? Analysis of economic data over the past decade suggests that Canada’s labour market significantly outperformed that of the US in both wage gains and in maintaining equality. However, behind this great success story there are warning signs for the future of the Canadian economy.
Distressed investing — Step 5: Close with confidence The last thing you want to see is all your hard work and investment of time and resources go for naught because the arrangement is nixed by the distressed company’s board of directors or stakeholders. A fairness report by a credible, independent party can improve the chances that your deal succeeds.
Predictive financial modelling for oil and gas investments: How do you quantify project uncertainty? Investment structures in oil and gas take on different forms and the success of any project rests with multiple variables.
Death care services: opportunities to innovate The death care industry must reinvent itself for the 21st century if it’s to remain relevant and profitable.
Distressed investing—Step 4: Structure the deal How you structure and position your offer can often make the difference between success and failure in a competitive distressed merger and acquisition process.
Case study: Canadian manufacturer Valiant TMS Group sold to Chinese consortium with Participation of Hubei Huachangda Intelligent Equipment Co., Ltd. This transaction represents an important step in the Company’s history by enabling the founding family to achieve a successful succession plan while supporting management’s development strategy and finalizing the transition in the governance structure from the founding shareholders to the management.
Distressed investing—Step 3: Perform due diligence Take a deeper dive into the distressed business to understand performance and profitability, and evaluate options to turn the business around.
Case study: Nippon Paper Industries USA Co., Ltd. After conducting a strategic review of NPIUSA’s global operations, the Tokyo-based company determined that the Port Angeles mill did not fit with NPIUSA's global strategy and objectives and began looking for an appropriate buyer.
Collaboration, the key to efficient dispute resolution With cost reduction on the mind of most business leaders today, alternative dispute resolution processes that can be held out of the public eye and often produce more favourable results quickly and at a lower cost than going through the courts, is an attractive option.
Distressed investing — Step 2: Develop a strategy for superior returns Once you’ve identified a distressed investment that interests you, it’s time to strategize. While there may be a golden opportunity to get a significant return on your investment, you’ll need to do your homework, ask the right questions and create a sound strategy so you’re confident you can achieve your investment goals.