In particular, the report notes that 45% of life sciences
executives surveyed are still expecting to pursue acquisitions over
the next year, while 50% currently have three or more deals on the
go. Further, 58% of executives surveyed indicated that M&A
opportunities have increased in priority on their boardroom
agendas. Overall, the report cites that the majority of executives
have a positive outlook towards M&A in the life sciences
sector, with 94% of those surveyed saying that they see the market
as stable or improving.
Despite the optimistic outlook, the report notes that the number
of deals called off increased from 71% six months ago to 91%. Many
of those surveyed pointed to due diligence and valuation gaps as
the primary reasons that planned acquisitions were cancelled, while
regulatory reviews also remained a common concern.
The report also noted that the U.S. Treasury's announcement
of changes to the
tax rules affecting cross-border transactions could suppress
the frequency of deals in the life sciences sector, as one major
pharmaceutical deal has already been called off this year as a
result of this shift in tax policy. However, the ultimate impact of
these regulations remains to be seen.
The author would like to thank Samantha Cass, articling
student, for her assistance in preparing this legal
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Under the Income Tax Act, the Employment Insurance Act, and the Excise Tax Act, a director of a corporation is jointly and severally liable for a corporation's failure to deduct and remit source deductions or GST.
Under the Income Tax Act, the Employment Insurance Act, the Canada Pension Plan Act and the Excise Tax Act, a director of a corporation is jointly and severally liable for a corporation's failure to deduct and remit source deductions.
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