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Cross-Market Commentary: M&A Volume Between China And Canada Spiked In 2011 Feb 12
Standard & Poors, Feb 2012
Abstract
The U.S. State Department recently rejected an application from Canadian oil and gas company TransCanada Corp. to build the Keystone XL oil pipeline, saying the U.S. Congress gave an impossible deadline to conclude the environmental review. As a result, speculation arose that Canada may be marketing some energy sources to China to diversify exports, as Canadian Prime Minster Stephen Harper visited China to meet with government officials. After these developments, the Global Markets Intelligence (GMI) research team examined recent trends in merger and acquisition (M&A) activity involving China (and Hong Kong) and Canada. We found that the dollar volume of Chinese/Hong Kong acquisitions in Canada increased last year, according to S&P Capital IQ. Specifically, dollar volume for such deals totaled...
Companies mentioned in this report are: Power Corp. of Canada,CNOOC Ltd.,OPTI Canada Inc.,TransCanada Corp.,Daylight Energy Ltd.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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