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Canadian merger activity lower in 2010: KPMG

A report from advisory firm KPMG says merger activity in 2010 involving Canadian companies will be lower than last year.

According to the firm’s report, there will be slightly more than 1,800 mergers in 2010 estimated to be worth between $114 and $117 billion.

While the figures do show a slowdown in merger activity for the year, the report highlights the increase in mergers in the second half of the year—with more than half of the total dollar amount of private equity deals done in November alone.

"Business generally has the view that we’re out of the woods. The direction is up," Peter Hatges, President of KPMG's Corporate Finance Practice, told BNN. "People tend to be more confident."

KPMG expects increased merger activity to continue into 2011. The report also suggests the current turmoil in European markets and strong Canadian dollar could create significant buying opportunities for Canadian companies in the new year.

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