It might be a busy market for mergers and acquisitions in Canada’s oilpatch later this year, provided the geopolitical mayhem eases enough for buyers and sellers to find common ground on price, says a partner at consulting firm Deloitte.
In a report published Wednesday, Deloitte said deal activity seemed to be on the upswing heading into this year after a decade-long lull. But with the U.S.-Israel war on Iran shaking global oil markets, the outlook now is much more hazy.
“It’s really hard for a deal to get done” with the West Texas Intermediate price hovering around US$115 per barrel, said Andrew Botterill, partner for energy, resources and industrials at Deloitte Canada….