Weakness in commodities weighs on M&A activity in Canada

first_img James Langton Global M&A sets Q1 record, Refinitiv says Keywords Mergers and acquisitions Share this article and your comments with peers on social media According to the firm’s M&A data for the first half of 2017, J.P. Morgan is the top M&A advisor so far this year, working on $42.9 billion (all figures in U.S. dollars) worth of M&A deals. TD Securities Inc. ranks second at $35.1 billion with Goldman Sachs & Co. third. RBC Capital Markets and Barclays PLC round out the top five. In terms of number of transactions, RBC Capital Markets leads with 23, followed by TD Securities and Deloitte with 21 deals each, BMO Capital Markets sits fourth with 20 deals, and J.P. Morgan stands fifth. Overall, continued weakness in commodities prices is weighing on M&A activity in Canada, the report says. Between 2007 and 2014, energy, mining and utilities accounted for an average of 32% of all M&A deals in Canada, but these sectors have only contributed 22% of deals since 2015. At the same time, this weakness in global commodities prices is weighing on the Canadian dollar, which is boosting inbound deal activity, the report notes. In the first half of 2017, there were 139 inbound deals, worth a combined $16.9 billion, representing record highs. “What is particularly striking about the increased activity is the departure from the traditional commodities driven sectors, oil and gas in particular, to technology-based deals,” the report says. Private equity is playing a large part in the shift to more technology sector deals in Canada, the report states, noting that more than a quarter of all inbound software deals in the first half were backed by private equity. Looking ahead, Mergermarket suggests that it expects to see a rebound in M&A for the mining sector. So far, there have been 24 deals in the sector this year compared with just 38 for all of 2016. “As the global shift to clean energy continues, there is a concurrent increase in the demand for metals and minerals required to support this transition. Green energy tech such as wind, solar, and storage require substantial quantities of metals and minerals such as copper, gold, lithium, cobalt, which is expected to generate increased activity for these assets,” the report says. “With Canada being home to some of the world’s largest copper reserves, the country is poised for a continued increase in mining M&A.” At the same time, Canadian miners are also on the lookout for foreign assets, particularly in South America, the report notes: “Countries such as Chile, Peru, and Bolivia should see increased activity over the next few years, and it appears Canadian buyers are already wise to the trend.” Photo copyright: macgyverhh/123RF BMO asset management sale is on strategy: Moody’s J.P. Morgan Chase & Co. Inc. is the top mergers and acquisitions (M&A) firm in Canada through the first half of 2017 in terms of deal value, but RBC Capital Markets leads the way in volume, according to a new report from Mergermarket. Related news Record M&A activity in Q1, Crosbie & Co. says Facebook LinkedIn Twitterlast_img read more

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T-Mobile blasts allegations of coverage fraud

first_img Amazon reels in MGM T-Mobile US hit back against accusations by the Rural Wireless Association (RWA) that it exaggerated its coverage area in data submitted to the Federal Communication Commission (FCC) as part of a major funding programme.In a recent filing to the commission, T-Mobile said RWA’s claims were unfounded and “patently false”. The operator noted it had “not been contacted by the commission” regarding an investigation into alleged violation of LTE coverage statement requirements and had “no reason to believe” it is involved.The operator went on to argue that it actually underrepresented its coverage reach in its reports: “Contrary to RWA’s claim that T-Mobile submitted future coverage, T-Mobile followed required procedures and submitted shapefiles reflecting 4G LTE coverage as of December 2017…Rather than overstating T-Mobile coverage, the submitted files more likely understate coverage as T-Mobile continued to expand its network throughout the challenge process.”Earlier this month, the FCC suspended its Mobility Fund Phase II proceeding, a federal funding programme set to distribute $4.53 billion to expand LTE to underserved areas, after a review of coverage data submitted by operators suggested violations of its reporting rules.While the FCC did not detail the nature of the violations or which operators were involved, the suspension came shortly after members of the RWA met with the commission to air concerns that Verizon and T-Mobile had overstated coverage.The RWA asked the commission to investigate and bar operators which filed “overstated coverage, projected coverage, or false coverage” from receiving funds. Subscribe to our daily newsletter Back AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 20 DEC 2018 Deutsche Telekom, SoftBank tipped for T-Mobile trade Related T-Mobile US chief predicts market rebound Home T-Mobile blasts allegations of coverage fraud Diana Goovaerts Author Diana is Mobile World Live’s US Editor, reporting on infrastructure and spectrum rollouts, regulatory issues, and other carrier news from the US market. Diana came to GSMA from her former role as Editor of Wireless Week and CED Magazine, digital-only… Read more Previous ArticleHong Kong raises $767M in spectrum auctionNext ArticleBlog: Huawei deserves credit for tackling security claims head-on Tags 4G coverageFederal Communications Commission (FCC)T-Mobile USlast_img read more

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Robert Earl Riley

first_imgRobert Earl Riley, 81, of Vidor passed away on Wednesday, June 15, 2016 at his residence.Robert was born on March 22, 1935 in Port Arthur, Texas to parents Katie D. (Hardin) and Robert Amadis Riley. He lived in the Vidor area since 1982; prior in Port Arthur. He was a Thomas Jefferson High School graduate of the Class of 1953. He was a veteran of the US Army serving his country in the Korean Conflict. He owned and operated Robert Riley Farmers Insurance in Port Arthur for many years and retired from Huntsman after 46 years of service in Management. Robert was a member of the Masonic Lodge #1264, selected to be a Jester and was a past President of the Shriners. He enjoyed going fishing, hunting and antique shopping. Robert was a loving man who will be missed dearly. A 2 pm funeral service will be held on Tuesday, June 21, 2016 at Clayton Thompson Funeral Home, with a gathering of family and friends from 1 pm until service time. Burial will follow at Greenlawn Memorial Park. He was preceded in death by his parents, and seven siblings.Robert is survived by his wife, Carol Ann (Scott) Riley; children, Kurt Riley Sr. of Port Arthur; Carol Ann Doty of Port Neches; Tommy Park, Bobby Park Jr., Cindy McGlothin, all of Vidor. He is also survived by fifteen grandchildren and four great children.center_img In lieu of flowers, donations may be made in the memory of Robert Riley to Pine Forest Baptist Church 4800 North Main Vidor, TX 77662.last_img read more

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Bread of Faith

first_imgRabbi helps locals prepare for PassoverBy DINA ARÉVALOPort Isabel-South Padre [email protected] Asher Hecht has been on a mission this week. The McAllen-area rabbi, who represents Chabad of the Rio Grande Valley (Chabad RGV), has been traveling across the Valley distributing shmurah matzah to help the local Jewish population prepare for the upcoming Passover holiday.Shmurah matzah, which means “watched matzah,” is unleavened bread that is traditionally eaten during Passover in remembrance of the exodus of the Jewish people from Egypt. “It was Passover that we were freed from bondage, slavery and were able to become the nation of the Jewish people and to receive our mandate from God at Mt. Sanai,” Hecht said during a phone interview this week.With Passover beginning this Friday, March 30, Hecht and Chabad RGV wanted to make sure every Jewish person in the Valley had unleavened bread with which to observe the holiday. What makes shmurah matzah so special, Hecht explained, is that the ingredients used to make it are literally watched from the point of harvest until the bread is cooked to ensure that it does not come in contact with water.Too, the matzahs Hecht distributed this week were handmade in Israel.Want the whole story? Pick up a copy of the Port Isabel-South Padre Press, or subscribe to our E-Edition by clicking here. Share RelatedLetter to the Editor for August 31, 2017Special to the PRESS Editor, Liquefied natural gas will bring job diversity and investment to the RGV. It is an exciting time to be living in the Rio Grande Valley. Our tremendous economic growth and resources will bring life-changing opportunities to our region. This is great news for the Valley,…September 1, 2017In “News”San Benito host to bevy of holiday eventsBy CARLOS GONZALES Special to the Parade If you haven’t had that jolly feeling with Christmas Day coming up soon, then take a trip to San Benito and enjoy upcoming events that will take place to celebrate the holiday spirit. The City of San Benito will be holding more events…December 2, 2011In “South Padre Parade”Crowdfunding effort aiding RGV recoveryBy Gaige Davila [email protected] After Hurricane Hanna swept through the Rio Grande Valley, countless people throughout the area found themselves needing help, some of whom have had their homes destroyed by floodwater. On July 26, a group of around ten RGV organizers started a crowdfunding campaign, the RGV Mutual Aid…August 7, 2020In “News”last_img read more

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