What happened: Value of M&A activity skyrocketed in B.C. during the first quarter of 2019
Why it matters: The jump was driven primarily by the $17.4-billion acquisition of Goldcorp Inc.
A first-quarter surge in B.C.-based mergers and acquisitions (M&A) activity can be attributed to one particular mega-deal that kicked off the year, according to new data from Crosbie & Company Inc.
A May 29 report reveals the province was home to 145 M&A deals totalling $20.449 billion in value during the first three months of 2019.
That represents a 199.8% jump in value compared with the same period a year earlier when 130 deals totalling $6.821 billion were announced.
But it was one deal primarily driving the growth, with Newmont Mining Corporation (NYSE:NEM) initially announcing in mid-January its intents to acquire Vancouver-based Goldcorp Inc. for $17.368 billion to create the world's largest mining company.
The acquisition unfolded in somewhat dramatic fashion before closing later in the year.
The acquisition amounted to the largest deal in Canada during the first quarter of 2019.
