CIBC Urges Firms to ‘Be Bold’ in M&A-Focused Stock Deals

Canadian Imperial Bank of Commercesays investors this year have rewarded Canadian companies that have sold shares to fund acquisitions, and it’s urging firms to take more risks and pursue deals.

“We’re encouraging all of our clients to be bold,” Tyler Swan, managing director and global head of equity capital markets at CIBC, said in an interview. He said that equity deals used to fund M&A have been well received with “deep order books and strong after-market trading performance.”

CIBC is in second place on Bloomberg’s Canadian league table for equity and equity-linked financings, up five spots from last ...