TORONTO (Reuters) - Most Canadian chief executives don’t expect the global economy to improve in 2012 and plan to change strategic course, with many looking overseas for growth, according to a report by consultants PwC.
Facing easy access to financing and slower growth at home, many of those executives said mergers and acquisitions will be key tools to effect that change, the survey showed, and 45 percent said they wanted to spend more time developing foreign operations.
“We believe this is likely a reaction to concerns that CEOs have over a challenging global economy and an acceptance of slower domestic growth,” said PwC Canadian deals leader Kristian Knibutat.
The PwC report said one quarter of Canadian CEOs are planning to engage in M&A this year - versus 12 percent globally - and was based on 130 CEO interviews in Canada. It was part of a global survey of 1,258 executives.
Reporting By Pav Jordan; editing by Rob Wilson