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QUÉBEC INC.: IN
ACQUISITION MODE!

Comments from Gaétan Morin, Executive Vice-President, Corporate Development and Investments, Fonds de solidarité FTQ.1 When a Québec company is acquired by foreign interests, it can sometimes mean lost jobs and diminished positive socio-economic spinoffs generated from head offices or decision-making centres being in Québec. But in 2012, Québec companies made 29 acquisitions of foreign companies (valued at $11.9 billion); during the same period, 11 Québec companies were acquired by foreign companies (transactions totalling $2.5 billion).

Therefore, for each Québec company that is acquired by foreign interests, we buy 2.6 companies. This is a testament to the vitality of Québec’s companies.

The importance of access to capital

Québec is well positioned in the current financial ecosystem, but acquisitions require capital. A dip in the level of investments in companies could have unfortunate consequences, such as slowing down the rate of acquisitions in favour of foreign “predators,” or, more importantly, leading decision centres to leave Québec when their presence is fundamental to our economy.

The Fonds de solidarité FTQ and its patient capital is there to support Québec’s companies in their growth.

  1. Mr. Morin travelled across Québec during the last financial year to highlight, in particular, how important it is for our Québec businesses to be well capitalized in order to avoid slowing down the rate of acquisitions in favour of foreign companies, which could lead major decision centres to leave Québec.