A total of 32 Mergers & Acquisitions (M&A) deals (pending and completed) were announced in the Financial Services of Canada, in the last twelve months resulting in a total deal value of over $4,833.6 million. In the LTM period, June 2022 turned out to be the most prolific in terms of deal size, with a total deal value of $2,244.9 million, resulting in an average deal value of $748.3 million during that month. On the other hand, the month of June 2021 was the most prolific in terms of deal volume, recording a total of 6 deals, resulting in an average deal value of $50.4 million during that month.
Of the 32 deals, the deal secured between Telus Corp and LifeWorks Inc, was the largest M&A deal in the Canada Financial Services sector, which was valued at $2,241.3 million and was completed on June 16, 2022. The second-largest deal was between Sandstorm Gold Ltd and Nomad Royalty Company Ltd, while the third-largest deal was between Power Financial Corporation and Great-West Lifeco Inc. The Sandstorm Gold Ltd-Nomad Royalty Company Ltd deal and the Power Financial Corporation-Great-West Lifeco Inc deal were valued at $646.4 million and $451.8 million, respectively. The fourth-largest deal was between Equitable Bank-Concentra Bank valued at $370.1 million, whereas the deal between Fairstone Financial Inc-EdenPark Inc valued at $280.0 million was the fifth-largest deal.
Cumulatively, the top five deals amounted to $3,989.7 million and accounted for nearly 82.54% of the total deals (by value) announced during the last twelve months.
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