4 LEXPERT
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2016
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WWW.LEXPERT.CA
NEW APPROACHES AND VERY
DIFFERENT TYPES OF DEALS
ARE REQUIRED IN A CHALLENGING
DEALS LANDSCAPE
BY BEV CLINE
PHOTO:
SHUTTERSTOCK
DEAL FLOW
TALK ABOUT A change in tone and in tune.
Just a short time ago, Canadian M&A overall
was still fairly strong, as was inbound investment
from multiple countries, and the downturn in
oil and gas and base metals — well, who would
have thought prices would drop so low. en, of
course, we began to be battered by a combination
of a sinking loonie, tight credit markets, as well as
macro world events that have sent equity markets
on a roller coaster ride.
It's rather a case of try to forget the naysayers,
let's look for the optimists. at's because it's not
that there aren't deals; there's new approaches and
very different types of deals than a year or two ago.
And, quite possibly, light in the tunnel ahead.
Grant Zawalsky, a securities and M&A partner
with Burnet, Duckworth & Palmer LLP in Cal-
gary, says from his vantage point in Western Can-
ada, "in 2016 the reality is a lot of the traditional
buyers, even companies who have a good cost of
capital, are market darlings and can raise money
Innovation
in a Downturn
