Overview
Mergers and acquisitions in Canada continued to be very active
in 2018, notwithstanding the introduction of volatility in the
markets domestically and globally. The S&P/TSX composite
index had an up and down ride throughout the year, starting in a
decline after a strong 2017 year end, bouncing back in the second
quarter, staying flat in the third quarter and materially declining
in the fourth quarter, essentially eliminating all gains for the
year.1 At the same time, starting in 2017 and
carrying on through 2018, the Bank of Canada raised interest rates
three times,2 including in the fourth quarter of
2018. It has held the rate since then based on a general
slowing of the domestic economy in the early part of 2019.
