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Thursday, May 16, 2013 - 12:30 p.m. EST
In the past 4 years, Canada's share of the global acquisitions market has almost doubled. A robust currency, stable economy and well-capitalized financial institutions have all helped boost cross-border M&A activity. Canadian outbound M&A stands out from the crowd, a trend which looks set to continue.
Canadian acquirers' hunt for higher growth and broader corporate and portfolio diversification is still on. While acquisitions of U.S. assets have traditionally made up the lion's share of deals, yield-hungry investors and growth-challenged corporations are venturing further afield. Of course, the decision of where to invest is primarily a business choice framed by an organization's strategy. But the business risks shift and expand exponentially as the jurisdiction of choice moves from first world markets to emerging markets and then to frontier markets. Which geographies offer which sectors the most opportunity? What considerations should acquirers take into account at each stage of the deal process, from planning to post-close? What thresholds are critical to achieve when weighing the risks of outbound expansion with the promised financial rewards? Above all, what changes should Canadian investors and corporations make to their outbound M&A strategies for 2013/2014?
On May 16th, with the help of leading Canadian private equity investors, pension funds and strategic acquirers, we'll aim to answer these and other critical questions facing dealmakers as they fine-tune their strategies. After just 60 minutes, listeners will have a refreshed perspective on the direction in which the market is heading, the strategic imperatives that need to be addressed and the risks that need to be mitigated.
Moderator:
Matt Miller
Editor-at-Large
The Deal
As editor at large for The Deal, Matt Miller is responsible for a wide range of feature articles, analysis and special assignments. Matt helped develop coverage on cross-border deals, emerging markets, regional reports, distressed investing and bankruptcy. He has also written extensively on the music industry, was part of a weekly video series on the Eurozone crisis and has appeared as a commentator on CNBC and CNN.
Matt is celebrating his 37th year in business and financial journalism, with almost two decades based in Asia. Miller opened The Asian Wall Street Journal's New Delhi bureau, was bureau chief in Manila and an investigative reporter based in Hong Kong where he broke a number of major financial scandals including Asia's biggest-ever fraud. He also was the Pacific Rim correspondent for the San Diego Union-Tribune and contributed to BBC, National Public Radio, Institutional Investor, Far Eastern Economic Review and the Los Angeles Times.
Expert Panel:
Jonathan Melmed
Partner
Morrison Foerster
Jonathan Melmed is a partner in the corporate group based in New York. He serves as the head of the firm's private equity practice in New York. Mr. Melmed represents private equity funds and their portfolio companies, hedge funds, corporate clients and investment banking firms in M&A and complex corporate transactions. He has extensive experience in the alternative energy, infrastructure, energy, media, telecommunications, and life sciences sectors. Mr. Melmed also plays a leading role in the firm's Canada practice. In 2012, U.S. Legal 500 for M&A referred to Mr. Melmed as "incredibly responsive and able to handle difficult negotiations and matters...who is results oriented."
While focusing on international mergers & acquisitions and private equity transactional work, he has also represented numerous companies and investment banks on U.S. securities transactions, including initial public offerings, as well as both public and private debt offerings.
Mr. Melmed is also fluent in French. Mr. Melmed is admitted to practice in New York (1999) and Québec, Canada (2006).
Kosty Gilis
Managing Director
Onex
Kosty Gilis is a Managing Director at Onex, focusing on the industrial products and business services sectors. Since joining Onex in 2004, Kosty has worked on several private equity transactions, including the acquisition and subsequent IPO of Allison Transmission, the going-private acquisition of Tomkins plc and the subsequent divestitures of the Stackpole, Ideal, Schrader International, Dexter Axle and Air Distribution businesses from the Tomkins portfolio. He serves on the boards of Allison Transmission Holdings Inc. (NYSE:ALSN) and Gates Corporation. Prior to joining Onex, Kosty worked at Willis Stein & Partners, a Chicago-based private equity firm and was a management consultant at Bain & Company in the firm's Toronto, Canada and Johannesburg, South Africa offices. Kosty holds an M.B.A. from Harvard Business School and a B.S., Economics (Magna Cum Laude) from The Wharton School of the University of Pennsylvania.
With offices in Toronto, New York and London, Onex is one of the oldest and most successful private equity firms. Onex acquires and builds high-quality businesses in partnership with talented management teams. The Company has approximately $15 billion of assets under management, including $5 billion of proprietary capital, in private equity, credit securities and real estate. Onex invests its proprietary capital directly and as a substantial limited partner in its Funds. Onex' businesses have assets of $43 billion, generate annual revenues of $37 billion and employ approximately 250,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol OCX. For more information on Onex, visit its website at www.onex.com.
Peter Buzzi
Managing Director & Co-Head, Mergers & Acquisitions
RBC Capital Markets
Peter Buzzi is a Managing Director and Co-Head of RBC Capital Markets' Mergers and Acquisitions group. Peter joined RBC Capital Markets in 1986 and has advised numerous Canadian and international companies on a broad range of merger and acquisition transactions with particular emphasis on public takeovers and mergers, financial restructurings and going private and related party transactions. Peter has recently advised, among others, Potash Corporation on its takeover defense, Canwest on its financial restructuring, Nova Chemicals on its sale to IPIC and Arcelor Mittal on its sale of a 15% interest in its Canadian iron ore operations to Posco and China Steel.
Peter has a B.A.Sc. in Systems Design Engineering from the University of Waterloo and an MBA from the Harvard Business School. Peter is a member of the firm's Canadian Investment Banking Management Committee and is Chairman of the firm's Canadian Opinion Review Committee.
