Knowing what not to do when it comes to major business deals can be a blessing. Some of those deals for entrepreneurs in Canada include mergers and acquisitions. According to business analysts and experts, growing a business simply with the goal of making it worth more is not the wisest reason for doing so. And it seems that is one of the most common mistakes business owners make.
BMO Financial Group's coffer will be expanding thanks to a recent acquisition agreement. In mergers and acquisitions news in Canada, BMO has agreed to acquire stateside-based Clearpool Group Inc. pending regulatory approvals. Clearpool is an electronic trading solutions company and is expected to give BMO a powerful injection in electronic trading.
Worldwide deal-making in 2019 numbered in the trillions of dollars, making last year one of the best in recent history when it comes to business. Some of those deals included mergers and acquisitions in Canada -- including cross-border pursuits. Cross-border mergers and acquisitions totaled more than $1 trillion, but that is the lowest it has been since 2013.
An all-share deal recently went down in the cannabis industry to the tune of millions of dollars. WeedMD Inc., an Ontario cannabis grower, recently acquired Starseed Holdings Inc. The mergers and acquisitions deal is worth $78 million. Starseed Holdings is backed by the Laborers' International Union of North America (LiUNA), which is investing $25 million in WeedMD.
The cannabis industry continues to heat up in Canada and with that come recommendations from regulatory bodies across the country. Some of those recommendations surround the mergers and acquisitions regarding some of these companies in Canada as they forge ahead in a growing industry. These bodies are calling for increased transparency when it comes to mergers, acquisitions and other corporate dealings.
One of Canada's major banks had a major goal nine years ago -- to become one of the foremost investment banks stateside. The Royal Bank of Canada (RBC) recently realized that goal, rising to one of the major institutions in the States advising on mergers and acquisitions. It has cracked the top 10 for advising on these types of deals according to recent data.
The marriage of two major travel groups in the country is expected to give those in the travel industry more options when it comes helping consumers fly off into the sunset. Those interested in mergers and acquisitions in Canada may be interested to know that Northstar Travel Group recently acquired travAlliancemedia -- a parent company of TravelPulse Canada and TravelPulse Quebec. Suppliers utilize TravelPulse Canada as a major source of event and news coverage within the travel industry.
There continues to be increased marriages in the cannabis industry. The latest news in Canada regarding the industry's mergers and acquisitions includes the melding of Cannagistics, Inc. and Unified Cannabis of Canada. The all-stock transaction is expected to create the flagship CBD/Hemp/Cannabis International Vertically Optimized Company (CIVOC). Cannagistics CEO says the new entity will create a unique, profitable international powerhouse in the evolving cannabis industry.
The insurance industry continues to be a force to be reckoned with when it comes to business transactions in the country. A company based out of the states is the latest to make news on the mergers and acquisitions front by scooping up a major consulting firm based in Ontario. Hub International Canada's latest acquisition -- GMS Insurance Inc. -- strays from its previous deals last year, which were mainly out of the western part of the country.
The trade deficit in the country is getting smaller, according to government statistics. Some of that, experts believe, can be attributed to direct investment in Canada due to increased mergers and acquisitions activity, but also reflects a narrower deficit on goods, according to recent Statistics Canada numbers. The trade deficit is now at the lowest it has been since 2008.