Canada, U.S. M&A action at blistering pace. (mergers and acquisitions in petroleum industry)

Canadian merger and acquisition (M&A) activity reached a record high in first half 1997. Meanwhile, U.S. M&A transactions more than doubled compared with previous years this decade.

Records

The value of Canadian M&A activity was a record $7.7 billion (Canadian) during the first half, according to Calgary's Sayer Securities Ltd.

This represents a 45% increase from the $5.3 billion (Canadian) in M&A activity seen in first half 1996 and triple that of the same period in 1995.

Canada's 1997 January-June total surpassed by $1 billion (Canadian) the previous record of $6.7 billion (Canadian) set in first half 1989.

In the U.S., 193 deals totaled $7.4 billion (U.S.) during the period, according to Randall & Dewey Inc., Houston. This first half total exceeds annual totals for each year this decade. …