Bruce Sheiner

Subscribe to all posts by Bruce Sheiner

Securing Equity in Unsecure Times

Photo of Bruce SheinerBy Bruce Sheiner on Posted in Corporate finance
Since the beginning of March, 15 companies within the S&P/TSX Composite Index have gone to market to raise capital. All but one did so by raising debt. By comparison, of the largest LSE listed issuers, 23 have raised equity and 10 have raised debt. It is clear – European issuers are favouring equity during this … Continue reading

The interesting thing about M&A is…

Photo of Bruce SheinerBy Bruce Sheiner on Posted in Finance, M&A
Many predicted that 2017 would be another record year for Canadian mergers and acquisitions (M&A). There are also currently some predictions that interest rates will continue to rise despite the recent announcement of a contraction in the economy. In this blog post we consider these two factors. As depicted in Figure 1 below, while 2017 … Continue reading

Key findings: SRS Acquiom 2017 deal terms study

Photo of Bruce SheinerBy Bruce Sheiner on Posted in M&A
SRS Acquiom recently published its 2017 Deal Terms Study. The report draws on data from 795 private-target transactions that closed between 2013 and 2016 using SRS Acquiom’s services. The results of this study offer a unique and valuable perspective of private M&A transactions that might not otherwise be reported. Some of the key findings are … Continue reading

Modern M&A deal process: focus on negotiated sales and increased usage of technology

Photo of Bruce SheinerBy Bruce Sheiner on Posted in M&A, Technology and innovation
Technology is increasingly playing a bigger role in M&A deals, transforming the way transactions are priced, negotiated and completed. The use of different platforms is facilitating transmission of deal information to a wider group, and as a result, crucial stages in a deal can now be done remotely and simultaneously by several deal parties. Moving … Continue reading

Taking stock of SPACs

Photo of Bruce SheinerBy Bruce Sheiner on Posted in Corporate finance, Finance
While the CPC program has existed for a number of years under the TSXV and Special Purpose Acquisition Companies (SPACs) have long been a feature of American capital markets, as we alerted in October of last year, SPACs are a relatively new arrival in Canada, with the first Canadian SPAC created in April 2015. The … Continue reading

#Trubama, climate change and the oil industry: how will it impact M&A in 2016?

Photo of Bruce SheinerBy Bruce Sheiner on Posted in Corporate finance, Energy
Earlier this month, Prime Minister Justin Trudeau enjoyed an official visit to Washington that attracted significant attention and generated positive headlines for Canada-US relations. At the top of the agenda was the common goal shared between the leaders to combat climate change. Although “#Trubama” (the twitter moniker given to the pair) only have until November … Continue reading

What’s the point?

Photo of Bruce SheinerBy Bruce Sheiner on Posted in Corporate finance
Lawyers are wordsmiths not mathematicians who, when working on a deal, often leave the complex math to the bankers and accountants. Some of us decided to go to law school because of our dread of math; finance and the sciences were out for us. This leads to my topic today, what is the difference between a … Continue reading

M&A in Canada: industry revenue and profits

Photo of Bruce SheinerBy Bruce Sheiner on Posted in Corporate finance, Finance, Infrastructure, mining and commodities, Pharmaceuticals and life sciences, Transport
Expanding growth in nearly all sectors Norton Rose Fulbright focuses its services on 6 key industry sectors and, according to a study released recently by the Globe and Mail on Canadian corporations, almost all of these sectors have seen an expansion in revenue and most have seen growth in profits during the period from 2011 to … Continue reading
LexBlog