Q3 | TORYS QUARTERLY • SUMMER 2021
Rethinking Cross-Border Business

The drive to expand global reach and new mandates to advance domestic strategies: we look at these parallel trends for organizations with cross-border interests in the Torys Quarterly.

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Included in this report:

Dealmaking

M&A activity is at record-breaking levels—but with a global economy still coping with the pandemic, cross-border dealmakers are paying close attention to changing regulation, and deal terms and practices.

Low debt funding costs, strong equity markets and the abundance of capital are underpinning the healthy environment for M&A, and all indicators suggest that the dealmaking momentum should persist into year end and beyond.
— Cross-border M&A is booming

Market Trends

The COVID-19 crisis has disrupted market activity and stirred changing sentiments toward globalization, affecting how governments at all levels and businesses build their strategies. At the same time, pandemic-related litigation is ramping up, with implications for cross-border business.

The achievement of the broader policy objectives for future government procurement will require careful planning within the context of Canada’s international trade commitments.
 Rewiring the supply chain

Regulatory

Regulators are turning their focus to a wide range of issues for cross-border business, from foreign investment reviews and cryptocurrency to tax and how businesses should manage proof of vaccination in different jurisdictions.

Central banks around the world are responding to the enthusiasm for digital assets by commencing the processes to establish their own digital fiat currency.
 Digital dollars: central banks, cyber space and your cash

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