Intact Financial, one of the country's big insurers, is finding it pretty slim pickings when it comes to finding acquisition targets.
Intact Chief Executive Officer Charles Brindamour told Bloomberg that he wants to be a consolidator in his business, and he's got $1.2-billion (roughly two thirds cash and one third available credit) that could be used to buy something, if only there was something to buy.
"There are very few auctions, per se, or properties being shopped,"Mr. Brindamour told the news service.
If this turns out to be a permanant state of affairs, the Intact CEO said he'll give the money back to shareholders.
Here's the full story on Bloomberg.