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News 53

Canada Looks to Europe as G8’s Best Economy Buys Up Worst

Canadian companies are daring to go where others are pulling back -- Europe.

Corporations and pension funds from the second-fastest- growing nation in the Group of Seven are on a European buying spree, boosting spending on deals in the region by 58 percent in the year's first half, even as U.S. and Chinese buyers slash spending on takeovers there. Europe's low valuations, the robust Canadian dollar and cheap capital are luring Canadian companies such as Brookfield Asset Management Inc. (BAM/A) and Alimentation Couche-Tard Inc., Bloomberg Businessweek reports in its Aug. 6 issue.

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