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				Mergers, buying activity picks up in Canada: report
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					Posted: 
					
						Aug 30, 2011 12:10 PM
					
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					Last Updated: Mar 27, 2012 08:30 AM
				
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				<p>TORONTO &ndash; Canada's 10 fleet acquisitions by major public carriers this year is just one short of the record of 2006.</p>
<p>According to data compiled <a target="_blank" href="http://www.bloomberg.com/news/2011-08-30/canada-truckers-speed-post-slump-merger-drive-freight-markets.html "><span style="color: rgb(51, 51, 153); ">by Bloomberg</span></a>, the number of Canadian merger and acquisitions among larger stock-based carriers so far this year is just five short of those in the U.S. <br />
<br />
Poised to surpass the record of annual takeovers, carriers are signaling confidence in the Canadian economy&rsquo;s resilience compared to the U.S. or Europe, says Bloomberg.</p>
<p>Companies like TransForce, Contrans and Mullen have barreled down on acquisition trail this year, compared to 2010, when no major fleet purchases were reported.</p>
<p>Top company execs told the news service that one reason they're in the buying mood again is because of the high number of well-run, &quot;aging&quot; family-run fleets looking for a buyout.</p>
<p>&quot;The reason we are back buying companies is because we see good opportunities,&quot; said TransForce CEO Alain Bedard. &quot;Instead of bringing our debt down all the time, we invest.&rdquo;</p>
			
				
				
			
				
				
			
			
			
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