Canada's recent merger boom helped the country set new deal records in the third quarter, according to data from Thomson Reuters released Thursday.
The high values stand out against the backdrop of slower global deal making and muted economic growth. Worldwide merger and acquisition activity declined 22 per cent in the first nine months of the year from the year-earlier period – down to a three-year low – while large corporate tie-ups propelled Canadian deal makers to new heights. Story
DAILY DEALS
Snapchat parent working on IPO valuing firm at $25-billion or more: report
Photo-sharing app Snapchat's parent is working on an initial public offering that could value the company at $25-billion (U.S.) or more, the Wall Street Journal reported, citing several people familiar with the matter.
Snap Inc., which operates the app Snapchat that lets users send videos and messages that disappear in seconds, is looking to sell shares as early as late March, the Journal reported. Story
Twitter shares plunge on report Google has no plan to make bid
Twitter Inc. shares plunged on Thursday as fears mounted that a much-anticipated auction of the social media company will draw minimal interest from potential buyers.
With stagnant user growth and continuing losses, Twitter's board agreed last month to consider a sale, and has told potential acquirers it wants such deliberations to conclude by the time it reports third-quarter earnings on Oct. 27, Reuters reported on Wednesday. Story
IN CASE YOU MISSED IT
Andrew Willis: New TMX innovation panel aims to give Canadian startups a boost. Story